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Subhash Chandra Personal Insolvency Proceedings

Still running. 3 entries so far, over 5 days from 29 August 2026.

01
29 August

HDFC Bank appeal in Zee TV case

  • HDFC Bank is considering an appeal to the NCLAT against an NCLT order regarding the personal insolvency of Subhash Chandra.
  • The NCLT order approved a repayment offer of ₹6.5 crore against total creditor claims of ₹22,006 crore.
  • HDFC Bank, a dissenting creditor, held an admitted claim of approximately ₹705 crore (3.2% of total claims).
  • The dispute involves the interpretation of personal guarantee liabilities under the Insolvency and Bankruptcy Code (IBC), 2016.
  • LIC Housing Finance Ltd (LICHFL), another dissenting creditor, clarified that the personal insolvency resolution process does not discharge the corporate liabilities of the principal borrower entities.
  • LICHFL maintains its right to enforce security interests and mortgage claims against the principal borrowers despite the outcome of the personal guarantor's insolvency proceedings.
3 questions on this day
02
1 September

NCLT Bench for Subhash Chandra personal insolvency case

  • The National Company Law Tribunal (NCLT) has constituted a five-member Bench for the first time in its history to adjudicate a personal insolvency case.
  • The case involves media baron Subhash Chandra and pertains to a personal insolvency claim exceeding ₹22,000 crore.
  • The formation of the five-member Bench follows a split verdict by a two-member Division Bench and a subsequent failure to reach a majority consensus even after referral to a third judge.
  • The Bench is led by NCLT President Justice Anupinder Singh Grewal.
  • The dispute centers on the adjudication of a proposed ₹6.5 crore repayment plan.
  • The case is being processed under the framework of the Insolvency and Bankruptcy Code (IBC).
3 questions on this day
03
2 September

NCLT stays Subhash Chandra insolvency relief

  • A five-member Special Bench of the NCLT has stayed an August 25 ruling that approved a personal insolvency repayment plan for Subhash Chandra.
  • The original repayment plan proposed a payment of ₹6.25 crore against admitted claims of ₹22,006.57 crore, representing a haircut of over 99% for creditors.
  • The plan had been supported by creditors holding 80.814% of the voting share.
  • The stay order prevents Mr. Chandra from alienating or disposing of his assets.
  • The Special Bench was constituted by the NCLT President after a split verdict and a subsequent independent ruling by a third member failed to achieve a clear majority.
  • Dissenting creditors, including LIC Housing Finance and Union Bank of India, have challenged the repayment plan before the National Company Law Appellate Tribunal (NCLAT).
3 questions on this day

Questions from this story

Newest first. A story that ran for 5 days is exactly the kind the mains paper asks about as one question.

  1. Discuss the challenges faced by the National Company Law Tribunal (NCLT) in adjudicating personal insolvency cases under the Insolvency and Bankruptcy Code (IBC), particularly regarding the resolution of split verdicts. 150 words · 2 September
  2. The Insolvency and Bankruptcy Code (IBC) aims to balance the interests of creditors and debtors. Critically examine the efficacy of personal insolvency frameworks in India, highlighting the issues of 'haircuts' and the role of the judiciary in ensuring equitable resolution. 250 words · 2 September
  3. Discuss the institutional mechanism for resolving deadlocks within the National Company Law Tribunal (NCLT) when a Division Bench fails to reach a majority verdict. 150 words · 1 September
  4. The Insolvency and Bankruptcy Code (IBC) aims to streamline the resolution of insolvency for both corporate entities and individuals. Analyze the challenges faced by the NCLT in adjudicating personal insolvency cases and the significance of judicial consistency in such proceedings. 250 words · 1 September
  5. Discuss the legal distinction between the insolvency resolution process of a personal guarantor and the corporate liabilities of a principal borrower under the Insolvency and Bankruptcy Code, 2016. 150 words · 29 August
  6. The Insolvency and Bankruptcy Code (IBC) aims to balance creditor rights with the resolution of stressed assets. In light of recent judicial trends regarding personal guarantees, analyze the challenges faced by creditors in recovering dues and the role of the NCLAT in ensuring equitable resolution. 250 words · 29 August

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250words.in · https://250words.in/stories/subhash-chandra-personal-insolvency-proceedings