Subhash Chandra's dissenting lenders Canara Bank, Union Bank move NCLAT against NCLT order - The Economic Times
Dissenting lenders have challenged the NCLT order approving Subhash Chandra's personal insolvency plan. The Essel Group chairman's plan proposes a Rs 6.5 crore payment against creditor claims. Lenders argued that five entities linked to Chandra's family improperly influenced the voting process. The NCLT approved the plan after a third member ruled in its favor. The appellate tribunal will now hear the lenders' challenge on Tuesday.
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Union Bank, LIC Housing Fin, Canara Bank challenge NCLT nod to Subhash Chandra resolution plan - The Economic Times