NCLAT defers banks' plea to Oct 7 after NCLT stays Chandra's 99.97% haircut

The NCLAT on Wednesday deferred to October 7 the hearing of lenders' plea challenging the repayment plan approved for Subhash Chandra. The move came a day after a NCLT bench stayed Chandra's ₹6.25-crore payment against ₹22,006-crore claims, resulting in a 99.97% lender haircut. Chandra’s counsel alleged that he was being subjected to a "media trial" during the proceedings.