5-Member NCLT Bench Stays Subhash Chandra's ₹6.5 Crore Repayment Order

A five-member NCLT bench has stayed a repayment order against Subhash Chandra and barred him from alienating his assets. The case had remained inconclusive due to dissenting orders over the past year. A third member, Nilesh Sharma, had approved a repayment plan on August 25, but the bench found no clear majority view under Section 419(5) of the Companies Act, 2013.

It is manifest that as per Section 419 (5) of the Companies Act, 2013, there is no clear majority view capable of being given effect to.