NCLT stays Subhash Chandra’s Rs 6.25-crore repayment plan, bars sale of guarantor’s assets
A newly constituted five-member bench of the National Company Law Tribunal on Tuesday stayed an order approving Zee Group founder Subhash Chandra‘s Rs 6.25-crore repayment plan against admitted creditor claims of over Rs 22,006 crore, as per ANI. The bench also barred him from selling or transferring his properties while the matter is heard afresh.
The order comes just a week after the tribunal had cleared the repayment proposal, a figure that drew sharp criticism from lenders given the scale of claims involved.
