The National Company Law Tribunal (NCLT) has constituted a five-member bench to decide Essel Group chairman Subhash Chandra’s personal insolvency case after holding that no majority verdict had emerged on his Rs 6.25-crore repayment plan.
The larger bench will hear the case at 10.15 am on Tuesday.
A bench comprising Judicial Member Ashok Kumar Bhardwaj and Technical Member Reena Sinha Puri said no final order could be passed at this stage because the third member’s opinion differed significantly from the views taken by both of them.
“All said and done, no majority view has emerged in the matter. In the wake, no order can be passed at this stage,” the tribunal said, according to Bar & Bench.
The dispute began with a split…