As a result of Chandra being admitted to moratorium, no litigation can be initiated against him. Chandra also cannot alienate or sell any of his assets and the Resolution Professional will now process the claims of those who intend to recover money from him.
IBHF claimed that while Chandra indicated of a settlement being reached in the dispute, it is yet to be fulfilled. So, they are constrained to revive the personal insolvency plea. The plea was filed under the Insolvency and Bankruptcy Code, 2016 (IBC)
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Indiabulls Housing Finance moves NCLT against Subhash Chandra to recover loans : Rashtra News #Indiabulls #Housing #Finance #moves #NCLT #Subhash #Chandra #recover #loans Indiabulls Housing Finance has moved the National Company Law Tribunal (NCLT) against media baron Subhash Chandra claiming he had personally guaranteed payment for loans given to companies that were co-borrowers with Essel