Businessman Subhash Chandra moves the National Company Law Appellate Tribunal (NCLAT) to challenge an order issued by a five-member bench of the National Company Law Tribunal (NCLT). The NCLT bench, constituted to deal with aspects of his personal insolvency, passes the order on Sept. 1, and Chandra challenges that decision before the appellate forum.
According to the reports, the appeal focuses on the tribunal’s directions relating to the alienation of assets. The move seeks appellate review of the NCLT’s order, with the matter now proceeding to the higher tribunal. Other outlets provide limited additional detail in the supplied material, but the consistent point across sources is the filing of an NCLAT challenge against the Sept. 1, five-member NCLT bench order tied to asset-disposition actions.
