NCLT orders fresh hearing on Subhash Chandra repayment plan

By Johar Deep, Correspondent

31 August 2026

Subhash Chandra

The National Company Law Tribunal (NCLT) has ordered a fresh hearing on Subhash Chandra’s Rs. 6.5‑crore repayment plan, after the earlier three‑member bench failed to produce a majority view. One member supported applying the plan only to consenting creditors, another wanted it binding on all creditors, while the third issued a separate 144‑page order, leaving the bench without a unified ruling.

With no majority decision possible, the matter was referred back to the NCLT President, who has constituted a five‑member Special Bench to re‑hear the case. The bench is scheduled to sit at 10:15 AM on 1 September, placing the Essel Group founder’s personal‑guarantee dispute back into active adjudication.