Tie-breaker judge opinion not majority view and is not final order of case, said the NCLT bench, reported CNBC-TV18
Moneycontrol News
September 01, 2026 / 11:45 IST
NCLT’s 5-member bench stays previous order approving Zee Entertainment‘s Subhash Chandra’s repayment plan
A five-member bench of National Company Law Tribunal stayed previous order approving Zee Entertainment’s Subhash Chandra’s Rs 6.5-crore repayment plan, reported CNBC-TV18 on September 1.
Tie-breaker judge opinion not majority view and is not final order of case, said the NCLT bench, the report added.
After a deadlock between three members of the Delhi bench of the NCLT to approve a Rs 6.5-crore repayment plan submitted by Subhash Chandra, chairman emeritus of Zee Entertainment Enterprises Ltd., for admitted claims of Rs 22,007 crore, the tribunal Monday formed a five-member bench to hear the case on September 1.
The bench comprises judicial members Anupinder Singh Grewal, Bachu Venkat Balaram Das, and Mahendra Khandelwal and technical members Atul Chaturvedi and Ravindra Chaturvedi.
The original division bench of the tribunal said no majority view had emerged in the matter and no order could be passed.
Canara Bank, Axis Bank, HDFC Bank, and LIC Housing Finance Ltd. had voted against Chandra’s repayment plan and sought its rejection by the tribunal. The value proposed under the plan constitutes only 0.028% of the value of Chandra’s assets, they said.
Moneycontrol News
first published: Sep 1, 2026 11:17 am
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