NCLT seeks CBI reply on Chandra repayment
mumbai/new delhi, Sept. 24 -- The National Company Law Tribunal (NCLT) on Wednesday sought a response from the Central Bureau of Investigation (CBI) within four weeks in the case involving Zee founder Subhash Chandra's repayment plan, while deferring the hearing over a shortage of benches at the tribunal. The five-member bench said the CBI's investigation could have a bearing on the proceedings.
The CBI has registered an FIR against Chandra and others on LIC Housing Finance Ltd's (LICHFL) complaint over an alleged Rs.1,322-crore loss. The case relates to two loan facilities totalling Rs.980 crore, for which Chandra allegedly provided personal guarantees.
LICHFL alleges that inflated net-worth certificates were used to secure the loans, whic...
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