NCLT Five-Member Bench to Hear Indiabulls Housing Finance Plea Against Subhash Chandra

A five-member bench of the National Company Law Tribunal (NCLT) will take up a plea filed by Indiabulls Housing Finance against media baron Subhash Chandra. The case follows the NCLAT's approval of a Rs 6.5 crore payment order related to Chandra's debt repayment. Solicitor General Tushar Mehta has argued that the appellate tribunal's ruling goes against the core principles of the Insolvency and Bankruptcy Code. The NCLT had earlier issued a split verdict on the matter of Chandra's proposed repayment plan. The larger bench will now deliberate on the legal and procedural questions raised by the case.