Subhash Chandra Challenges Five-Member NCLT Bench Formation at NCLAT
Quick Brief
In a personal insolvency proceeding before the National Company Law Appellate Tribunal, Essel Group founder Subhash Chandra has contested the establishment of a five-member National Company Law Tribunal bench. His legal counsel argued that the initial tribunal order was erroneous and lacked the requisite authority to constitute such a panel.
What Happened?
During hearings at the National Company Law Appellate Tribunal (NCLAT), Senior Advocate Sasmit Patra—representing Subhash Chandra in a personal insolvency case—criticized the formation of a five-member National Company Law Tribunal (NCLT) bench. Chandra's counsel characterized the underlying NCLT order as incorrect and asserted that the tribunal lacked the legal authority to create a five-member bench.
Why It Matters
The challenge raises critical questions regarding the procedural authority and jurisdiction of the NCLT to constitute larger benches in personal insolvency matters, which could potentially impact how similar corporate and personal insolvency cases are structured.
Key Facts
- Subhash Chandra is contesting a personal insolvency case before the NCLAT.
- His legal representation includes Senior Advocate Sasmit Patra.
- Chandra's team opposed the formation of a five-member NCLT bench.
- The NCLT order establishing the bench was labeled as 'faulty and wrong' by the defense.
- Counsel argued that the tribunal is not empowered to form such a bench.
Compiled from 1 outlet
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