NCLT's first-ever 5-member Bench to decide on Subhash Chandra repayment plan

India's National Company Law Tribunal has constituted its first-ever five-member Bench to rule on media baron Subhash Chandra's personal insolvency case, which involves creditor claims of ₹22,006.57 crore. The extraordinary step came after a Division Bench and a third member failed to reach majority consensus on a proposed ₹6.5 crore repayment plan. The Bench, led by president Justice Anupinder Singh Grewal, begins hearing on Tuesday at 10.15 a.m.

'If the order is allowed to continue, it will defeat the very purpose of the Insolvency & Bankruptcy Code.'