The NCLAT (National Company Law Appellate Tribunal) has deferred the insolvency proceedings against Zee founder Subhash Chandra to October 7, following a legal challenge by Chandra’s counsel over the constitution of a 5-member NCLT bench, reported ET Now on Wednesday. The delay comes as major lenders including Union Bank, Canara Bank, and LIC Housing Finance,…
Subhash Chandra insolvency: NCLT vs NCLAT – Powers, role, structure and key differences | Explained Livemint Read the original article here
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The Kenya Union of Savings and Credit Co-operatives (Kuscco) was formed in 1973 as an umbrella body for saccos and expanded into a multi-billion shilling institution offering financial and other services. A Sh13.3 billion fraud scandal plunged it into insolvency, forcing members to abandon rescue efforts and vote for liquidation last week. The decision came…
A five-member bench of the National Company Law Tribunal (NCLT) on Tuesday put on hold the August 25 order approving a repayment plan proposed by Zee Group founder Subhash Chandra in his personal insolvency proceedings. The larger bench, headed by NCLT President Justice (retd) Anupinder Singh Grewal, found that the earlier proceedings had not resulted…