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The Mumbai bench of NCLT, comprising H V Subba Rao and Madhu Sinha, reserved the order on Monday, after hearing arguments from creditors who objected to the scheme including Axis Finance, JC Flower Asset Reconstruction Co, IDBI Bank, Imax Corp and IDBI Trusteeship.
The process came to a halt following objections raised by several creditors of Essel Group against the non-compete clause added into the scheme
The Securities Appellate Tribunal (SAT) has upheld an interim order issued by the Securities and Exchange Board of India (SEBI)'s Whole Time Member (WTM) to bar Subhash Chandra, the Chairperson of...
The SAT dismissed an appeal from Zee Group Chairman Subhash Chandra and Zee Entertainment Chief Executive Punit Goenka over a ban on the duo by India markets regulator from holding board positions in public listed companies for a year.
The Securities and Exchange Board of India's (Sebi) had restrained the duo on June 12 from holding any managerial or directorship position in listed entities on account of alleged fund diversion.