Uploaded September 2026 | Updated September 2026, 2 weeks ago

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The NCLT has now put the controversial settlement plan involving Essel Group founder Subhash Chandra on hold. A five-member special bench has stayed the August 25 order that approved the ₹6.25-crore repayment plan and has directed Chandra not to sell, transfer or dispose of his properties.

But what exactly is the case? Why are creditors challenging the repayment plan? What happened to Chandra’s earlier reported net worth? And why did the NCLT approve a settlement that was a tiny fraction of the admitted claims?

In this Express Special, we break down the ₹22,006-crore insolvency case, Chandra’s personal guarantees, the ₹6.25-crore repayment proposal, creditors’ objections, the NCLT’s split verdict and the latest five-member special bench order.

Watch the full explainer to understand the case and what happens next.

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