NCLT orders insolvency proceedings against Subhash Chandra on Indiabulls Housing Finance plea

The National Company Law Tribunal (NCLT) on Monday ordered insolvency proceedings against media mogul Subhash Chandra, following a plea filed by Indiabulls Housing Finance. The decision, announced by a two-member bench in Delhi, comes in response to Chandra’s role as a guarantor for a loan extended to Essel group firm Vivek Infracon Ltd.
The NCLT’s directive focuses on initiating personal insolvency proceedings against Subhash Chandra, who serves as the Chairman Emeritus of Zee Entertainment Enterprises Ltd (ZEEL).