NCLAT sends notices to creditors on Subhash Chandra’s insolvency plea

The National Company Law Appellate Tribunal (NCLAT) on Tuesday sent notices to creditors regarding a petition filed by Essel Group Chairman Subhash Chandra and scheduled the hearing for October 29 and 30.

Chandra had earlier challenged before the appellate tribunal an order issued on September 1 by a five-member larger bench of the National Company Law Tribunal (NCLT), which had stayed the decision of a third tie-breaker judge in his personal insolvency case and barred him from selling his assets.