Essel Group Chairman Subhash Chandra on Wednesday (September 2, 2026) opposed the formation of a five-member bench by the National Company Law Tribunal (NCLT) to decide his personal insolvency case, contending that the tribunal does not have the power to constitute such a bench.
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Appearing for Mr. Chandra before the National Company Law Appellate Tribunal (NCLAT), Senior Advocate Sasmit Patra termed the NCLT order “faulty and wrong” and said, “they are not empowered” to form a five-member bench.
Mr. Patra submitted that the five-member bench had on Tuesday (September 1) stayed the order of Nilesh Sharma, Member…