Insolvency tribunal National Company Law Tribunal (NCLT) on Monday formed a five-member Bench to decide on media baron Subhash Chandra’s repayment plan in a personal insolvency case involving claims of more than Rs 22,000 crore after a division Bench failed to reach a majority verdict. The division Bench had referred the personal insolvency case against the Essel Group chairman to the tribunal’s president for fresh adjudication after failing to reach majority consensus on a proposed Rs 6.5 crore repayment plan despite referring the matter to a third judge.The five-member Bench, formed for the first time in the NCLT’s history, will be led by President Justice Anupinder Singh Grewal. The other members are Bachu Venkat Balaram Das, Mahendra Khandelwal, Atul Chaturvedi and Ravindra Chaturvedi. The Bench will start hearing at 10.15 am on Tuesday in the Principal Bench of NCLT.


