NCLT Pauses Subhash Chandra's Rs 6.25-Crore Settlement, Bars Asset Sales
Public Lokpal
September 01, 2026
NCLT Pauses Subhash Chandra's Rs 6.25-Crore Settlement, Bars Asset Sales
A newly constituted five-member bench of the National Company Law Tribunal (NCLT) has stayed a controversial order that previously approved Zee Group founder Subhash Chandra’s personal insolvency repayment plan.
Under the paused August 25 ruling, Chandra was permitted to clear admitted creditor claims totaling a staggering Rs 22,006.57 crore by paying a fraction of the amount—just Rs 6.25 crore.
Dissenting lenders, including HDFC Bank, Canara Bank, and LIC Housing Finance, strongly challenged the decision, alleging that related parties and associates of the promoter unfairly skewed the majority vote in favor of the settlement.
In response to the mounting scrutiny, the tribunal has barred Chandra from selling, transferring, encumbering, or dealing with any of his properties, directly or indirectly, while the legal proceedings remain pending.
Formal notices have been issued to all parties involved as the NCLT prepares to re-examine the case thoroughly.