The National Company Law Appellate Tribunal (NCLAT) issues notice to creditors on a plea filed by Subhash Chandra, seeking to challenge an order of the NCLT. The tribunal schedules the matter for further hearing on October 29–30.
The dispute centers on a September 1 order by a five-member special bench of the NCLT. Outlets report that the NCLAT is also addressing procedural steps in the appeal: a three-member bench of the appellate tribunal grants Chandra a week to file a rejoinder to the creditors’ reply. Creditors had opposed the maintainability of Chandra’s petition.
Across the reports, the common elements are that NCLAT has issued notice, set specific dates for the next hearing, and directed time-bound submissions by both sides. The coverage primarily differs in emphasis on whether the focus is on the maintainability objections or on the timetable for the rejoinder after creditors file their response.
