Essel Group founder Subhash Chandra. File
In a setback to Essel Group founder Subhash Chandra, a five-member Bench of the National Company Law Tribunal (NCLT) on Tuesday (September 1, 2026) stayed an August 25 ruling by a single-member Bench that had cleared a repayment plan requiring him to pay ₹6.25 crore towards admitted claims of ₹22,006.57 crore in personal insolvency proceedings against him.
The Bench, comprising President Justice Anupinder Singh Grewal, Judicial Members Bachu Venkat Balaram Das and Mahendra Khandelwal, and Technical Members Atul Chaturvedi and Ravindra Chaturvedi, observed that the earlier opinions did not yield a “clear majority view capable of…