Essel Group Chairman Subhash Chandra has opposed the formation of a five-member bench by the National Company Law Tribunal (NCLT) to decide his personal insolvency case.

According to a PTI report from New Delhi today ,the matter came up before the National Company Law Appellate Tribunal (NCLAT) on Wednesday, where Chandra challenged the NCLT’s decision to form the five-member bench.

Senior Advocate Sasmit Patra, appearing for Chandra, argued that the NCLT does not have the power to constitute a five-member bench for the case. He described the NCLT order as ‘faulty and wrong’ and said the tribunal was ‘not empowered’ to form such a bench.

Patra also pointed out that the five-member NCLT bench had on Tuesday stayed an earlier order passed by Nilesh Sharma, Member (Judicial).

Sharma had been brought in as the third member of the NCLT bench after a two-member bench delivered a split verdict in Chandra’s personal insolvency case.

The dispute over the constitution of the five-member bench is now being considered by the NCLAT. Chandra’s side has challenged the NCLT’s decision, arguing that the tribunal did not have the authority to form such a bench.

(Image of Subhash Chandra is a file photo from his X account)