Subhash Chandra to appeal at NCLAT over asset sale ban
Business
Big update for Essel Group: Essel Group Chairman Subhash Chandra is set to appeal his personal insolvency case at the National Company Law Appellate Tribunal (NCLAT) in New Delhi on October 29 and 30.
He's challenging a recent order that stopped him from selling his assets, and now the tribunal has also bundled in a separate creditors' dispute over a ₹6.5 crore settlement.
Subhash Chandra net worth inflation allegations
Chandra's case has gotten more complicated with allegations that he inflated his net worth to get loans.
The National Company Law Tribunal (NCLT) had already paused his repayment plan, raising questions about whether it even had the authority to do so.
Now, both sides are gearing up to present their arguments soon, and creditors have just a week left to file their responses.