# NCLAT issues notice to creditors on Subhash Chandra insolvency plea 2026-09-29T10:51:30+00:00 | Governance | Indian Opinion Desk Corroboration: 3 independent outlets The National Company Law Appellate Tribunal (NCLAT) on Tuesday issued notice to creditors and fixed October 29 and 30 for hearing an appeal by Essel Group Chairman Subhash Chandra. Chandra has challenged a September 1 NCLT order that restrained him from alienating his assets during personal insolvency proceedings over personal guarantees of Rs 22,006.57 crore. The NCLAT granted creditors a week to file replies on the maintainability of Chandra's petition. Solicitor General Tushar Mehta, appearing for some creditors, sought a later hearing, saying the matter is already before a five-member NCLT bench on November 19. Chandra's lawyer opposed this. The tribunal also clubbed a separate creditor appeal against Chandra's Rs 6.5 crore repayment plan with his main appeal. The case stems from a split NCLT verdict on Chandra's repayment plan, which proposed paying Rs 6.5 crore against admitted claims of Rs 22,006.57 crore. A third member approved the plan, but a five-member NCLT bench stayed that order and barred asset alienation. Chandra argues the NCLT exceeded its authority. ## Indian Opinion Analysis All three outlets report the same procedural development, NCLAT issuing notice, in near-identical straight-news style. The Economic Times leads with the NCLAT date and includes the Solicitor General's suggestion to wait for the November 19 NCLT hearing, while Livemint and Times Now foreground the Rs 22,006 crore debt figure. None of the three sources adopt a critical or pro-government frame, they simply track the legal process. The key difference is emphasis: ET gives more space to Chandra's argument about exceeding statutory authority, while Times Now details the creditor list. The uniform coverage means the real test will come on October 29-30, when the NCLAT decides on interim relief. ## Coverage - economictimes.indiatimes.com (neutral report) Straight procedural reporting, leads with NCLAT date and hearing schedule - livemint.com (neutral report) Straight reporting with detailed background on legal splits and creditor challenge - timesnownews.com (neutral report) Neutral procedural report, lists all respondent banks and legal chronology Tags: CBI, Indiabulls Housing Finance, Insolvency and Bankruptcy Code, NCLAT, NCLT, Subhash Chandra Canonical: https://indianopinion.org/nclat-to-hear-subhash-chandra-asset-freeze-plea-on-october-29/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/nclat-to-hear-subhash-chandra-asset-freeze-plea-on-october-29/#story-in-brief