The National Company Law Appellate Tribunal (NCLAT) on Tuesday issued notices to creditors on a plea filed by Essel Group Chairman Subhash Chandra and scheduled the matter for hearing on October 29 and 30.
Chandra had challenged before the appellate tribunal an order passed on September 1 by a five-member larger bench of the National Company Law Tribunal (NCLT), which had stayed the order of a third tie-breaker judge in his personal insolvency matter and restrained him from alienating his assets.
The NCLAT has directed the creditors, who opposed the maintainability of Chandra’s petition, among others, to file their reply within a week.
A three-member bench of NCLAT also granted a week’s time to Subhash Chandra to file a rejoinder to the…