A five-member special bench of the National Company Law Tribunal (NCLT) on Tuesday issued notices to all parties in the personal insolvency case of Essel Group chairman Subhash Chandra and directed him not to alienate his properties, directly or indirectly.
The bench, headed by NCLT President Justice Anupinder Singh Grewal, said there was no majority view on the proposed repayment plan and, therefore, no final order could be given effect to at this stage.
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“Let notice be issued to all the parties,” the NCLT said.
The tribunal further directed, “We also direct that the guarantor shall not alienate…