New Delhi, Sept. 23 -- Subhash Chandra has moved the appellate tribunal, NCLAT, against the order of a five-member bench of the National Company Law Tribunal (NCLT), which restrained him from alienating his assets during the pendency of the matter.
Chandra has challenged an order passed by a five-member NCLT bench, formed to decide his personal insolvency, on September 1, which stayed the order passed by the third tie-breaker judge, who voted for Rs 6.5 crore repayment against total liabilities of around Rs 22,000 crore.
The appeal came up for hearing before a three-member bench, which asked his counsel to serve the copies to creditors and implead them as parties.
The bench, which includes NCLAT officiating Chairperson Justice Yogesh Khanna, has directed that the matter be listed for the next hearing on September 29.
During the proceedings, counsel representing the creditors told the NCLAT that advance copies of the appeal have not been served on them or they have not been made parties despite having participated in the proceedings before the NCLT.
Published by HT Digital Content Services with permission from Millennium Post.