Canara Bank, Union Bank move NCLAT against NCLT order approving Subhash Chandra’s Rs 6.5-crore repayment plan

Dissenting lenders of Essel Group chairman Subhash Chandra on Monday moved the National Company Law Appellate Tribunal (NCLAT) against an order of the National Company Law Tribunal (NCLT) approving a repayment plan under which Chandra would pay Rs 6.5 crore against creditor claims of around Rs 22,006.57 crore in his personal insolvency resolution process.

In the morning, Solicitor General Tushar Mehta, representing LIC Housing Finance, raised the matter before an NCLAT bench comprising Officiating Chairperson Justice Yogesh Khanna and sought an urgent hearing later in the day.