Pioneer In Short

Subhash Chandra challenges NCLT

Essel Group Chairman Subhash Chandra on Wednesday challenged before the NCLAT the NCLT’s decision to constitute a five-member bench to hear his personal insolvency case, arguing that the tribunal lacked the power to do so. Senior Advocate Sasmit Patra, appearing for Chandra, termed the NCLT order “faulty and wrong” and questioned the authority under which the larger bench was constituted. The five-member bench had on Tuesday stayed an order passed by Nilesh Sharma, the third member brought in after a division bench delivered a split verdict. The NCLT had also barred Chandra from alienating his assets and stayed an order permitting him to settle claims arising from personal guarantees on group borrowings for about Rs 6.5 crore, against admitted creditor claims of roughly Rs 22,006 crore.

Solicitor General Tushar Mehta, representing dissenting creditors including LIC Housing Finance, Canara Bank and Union Bank, said the case presented “very peculiar circumstances” with three divergent views, warranting examination by a larger bench. NCLAT declined to permit withdrawal of the appeals and kept them pending. The matter will be heard next on October 7, while the NCLT proceedings are listed for September 23.

Kuki MLAs attend House after 3 years

Two Kuki MLAs on Wednesday attended a session of the Manipur Assembly in Imphal for the first time since ethnic violence erupted in the State in May 2023, officials said. Saikul MLA Kimneo Haokip Hangshing of the Kuki Peoples’ Alliance and Independent Saitu MLA Haokholet Kipgen, both from Kangpokpi district, attended the first day of the session. Deputy CM Nemcha Kipgen joined virtually. CM Y Khemchand Singh described the participation as a “positive step toward fostering unity and peace” and said it reflected efforts to reduce the trust deficit among communities. He reiterated his Government’s commitment to inclusive dialogue and reconciliation. The development came despite a directive from Kuki Inpi Manipur, the community’s apex body, asking Kuki MLAs not to travel to Meitei-majority Imphal.

Six Kuki-Zo MLAs had attended the Assembly’s Budget session virtually in February.

More than 260 people have been killed and thousands displaced in the ethnic conflict between Meiteis and Kukis since May 2023.