STARTUP LEGAL29 Sept 2026
Subhash Chandra’s ₹22,006 crore insolvency case: NCLAT issues notice over asset restraint | Company Business News
The National Company Law Appellate Tribunal (NCLAT) has issued notice on Subhash Chandra's appeal against an NCLT order stopping him from selling or transferring assets. The case began with an Indiabulls Housing Finance plea under Section 95 of the Insolvency and Bankruptcy Code (IBC), where he is a personal guarantor. Admitted creditor claims are ₹22,006.57 crore, against a repayment plan of ₹6.25 crore. Personal guarantors, take note.
Key Statutory Highlights
- The NCLAT has issued notice on Subhash Chandra's appeal against an NCLT order restraining him from alienating his assets.
- The case involves admitted creditor claims of ₹22,006.57 crore against a proposed repayment of ₹6.25 crore.
- The proceedings stem from an application filed by Indiabulls Housing Finance under Section 95 of the IBC against Chandra as a personal guarantor.
Actionable Advice for Taxpayers / Founders:If you have stood as a personal guarantor for anyone's loan, check your exposure and keep your loan and repayment papers handy. A court can restrain you from selling or transferring your assets during insolvency, so speak to a professional before making any big personal asset moves.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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