{"id":19512,"date":"2026-09-02T21:15:10","date_gmt":"2026-09-02T21:15:10","guid":{"rendered":"https:\/\/koshalsambada.in\/?p=19512"},"modified":"2026-09-02T21:15:10","modified_gmt":"2026-09-02T21:15:10","slug":"subhash-chandra-questions-validity-of-faulty-wrong-nclt-order-india-news","status":"publish","type":"post","link":"https:\/\/koshalsambada.in\/?p=19512","title":{"rendered":"Subhash Chandra questions validity of &#8216;faulty &#038; wrong&#8217; NCLT order | India News"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div data-articlebody=\"1\"><video-embed value=\"false\"\/><\/p>\n<div class=\"ihgno clearfix  \">\n<div class=\"e9jwa\">\n<div class=\"vdo_embedd\">\n<div class=\"GfdvZ\">\n<section class=\"_bIDB  clearfix id-r-component leadmedia undefined undefined  E9tg9 \" style=\"top:0px\">\n<div class=\"_bIDB\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"ypVvZ\">\n<div class=\"WGttI\"><img src=\"https:\/\/static.toiimg.com\/thumb\/msid-133719927,imgsize-346068,width-400,height-225,resizemode-4\/file-photo.jpg\" alt=\"Subhash Chandra questions validity of 'faulty &amp; wrong' NCLT order\" title=\"Chandra alleged the tribunal did not have the power to constitute a five-member special bench\" decoding=\"async\" fetchpriority=\"high\"\/><\/div>\n<\/div>\n<\/div>\n<div class=\"Ta7d_ img_cptn\"><span title=\"Chandra alleged the tribunal did not have the power to constitute a five-member special bench\">Chandra alleged the tribunal did not have the power to constitute a five-member special bench<\/span><\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>NEW DELHI: A day after NCLT barred him from alienating any of his property and stayed its order allowing him to settle his personal insolvency proceedings by paying around Rs 6.3 crore as against admitted claims of Rs 22,006.5 crore, Zee Group founder Subhash Chandra questioned the validity of the order before NCLAT.<!-- --> He alleged the tribunal did not have the power to constitute a five-member special bench, as was done to decide his case.<span class=\"id-r-component br\" data-pos=\"3\"\/>Senior advocate Sasmit Patra, appearing for Chandra, submitted before an NCLAT bench of officiating chairperson Justice Yogesh Khanna and technical members Barun Mitra and Ajai Das Mehrotra that the order was &#8220;faulty and wrong&#8221;.<span class=\"id-r-component br\" data-pos=\"5\"\/>&#8220;The scope of Section 419(5) is very limited. If there is a differing view, then that differing view has to be taken up by another member&#8230; <!-- -->It does not empower NCLT under IBC or company law to form a five-member bench&#8230; Under which power? When did this five-member bench sit together?&#8221; he submitted.<span class=\"id-r-component br\" data-pos=\"10\"\/>The appellate tribunal was hearing appeals filed by Union Bank of India (UK), Canara Bank and LIC Housing Finance against the Aug 25 opinion approving Chandra&#8217;s repayment plan.<\/p>\n<div data-type=\"in_view\" class=\"  \">\n<div class=\"LEzX4\">\n<div class=\"PmOGb\">\n<p class=\"PSf84\">Share your thoughts in the comments<\/p>\n<\/div>\n<p><button type=\"button\" class=\"sUTYm \">Insightful<\/button><button type=\"button\" class=\"sUTYm \">Agree<\/button><button type=\"button\" class=\"sUTYm \">Disagree<\/button><button type=\"button\" class=\"sUTYm \">Skeptical<\/button><button type=\"button\" class=\"sUTYm \">Concerning<\/button><button type=\"button\" class=\"sUTYm \">Promising<\/button><button type=\"button\" class=\"sUTYm \">Worth Reading<\/button><button type=\"button\" class=\"sUTYm \">Big Development<\/button><\/p>\n<p><textarea class=\"T9MbS\" rows=\"1\" placeholder=\"Add your Thoughts...\"\/><button type=\"button\" class=\"ZW6JD \" disabled=\"\">Post Comment<\/button><\/p>\n<p class=\"swnca\">Be respectful \u00b7 <a href=\"https:\/\/www.indiatimes.com\/termsandcondition\" target=\"_blank\" rel=\"noopener noreferrer\" class=\"gkv0P\">TOI community guidelines<\/a><\/p>\n<\/div>\n<\/div>\n<p><span class=\"id-r-component br\" data-pos=\"13\"\/>Solicitor general Tushar Mehta, appearing for the creditors, submitted that the petition filed against the third member&#8217;s order &#8220;may be disposed of with liberty to revive it&#8221; since some respondents could challenge the reference itself.<span class=\"id-r-component br\" data-pos=\"16\"\/>Patra raised a grievance that Chandra had been vilified across the country over a proposed payment of Rs 6.5 crore. The solicitor general took exception to this. The NCLAT bench agreed, saying, &#8220;If you have any grievances, the matter is pending before NCLT; you raise grievances right there.&#8221; tnn<\/div>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/india\/subhash-chandra-questions-validity-of-faulty-wrong-nclt-order\/articleshow\/133719923.cms\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chandra alleged the tribunal did not have the power to constitute a five-member special bench NEW DELHI: A day after NCLT barred him from alienating any of his property and stayed its order allowing him to settle his personal insolvency proceedings by paying around Rs 6.3 crore as against admitted claims of Rs 22,006.5 crore, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-19512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-31"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788383711_file-photo.jpg","medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788383711_file-photo.jpg","medium_large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788383711_file-photo.jpg","large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788383711_file-photo.jpg","1536x1536":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788383711_file-photo.jpg","2048x2048":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788383711_file-photo.jpg","blogsy-small":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788383711_file-photo.jpg","blogsy-small-tall":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788383711_file-photo.jpg","blogsy-small-square":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788383711_file-photo.jpg","blogsy-small-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788383711_file-photo.jpg","blogsy-medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788383711_file-photo.jpg","blogsy-medium-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788383711_file-photo.jpg","blogsy-large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788383711_file-photo.jpg","blogsy-wide":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788383711_file-photo.jpg"},"magazineBlocksPostAuthor":{"name":"admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/8709732a479614e7a8aa24d3eb1b239f30dc6d90c61464ed495001e7a469d856?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"Chandra alleged the tribunal did not have the power to constitute a five-member special bench NEW DELHI: A day after NCLT barred him from alienating any of his property and stayed its order allowing him to settle his personal insolvency proceedings by paying around Rs 6.3 crore as against admitted claims of Rs 22,006.5 crore, [&hellip;]","magazineBlocksPostCategories":["\u0b26\u0b47\u0b36 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