# Indiabulls Housing Finance Limited vs. Dr. Subhash Chandra

> NCLT judgment dated 2026-09-23. Citation: TCN-2026-NCLT-01253. This case involves an order under Section 95(1) of the Insolvency & Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 23 Sept 2026
- **Citation:** TCN-2026-NCLT-01253
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/indiabulls-housing-finance-limited-vs-dr-subhash-chandr-kqbe4

## Summary

### Background

This case involves an order under Section 95(1) of the Insolvency & Bankruptcy Code, 2016, concerning a Personal Guarantor Insolvency Resolution Process (PIRP). Indiabulls Housing Finance Limited is the Petitioner, and Dr. Subhash Chandra is the Respondent and Personal Guarantor. The Central Bureau of Investigation (CBI) is also investigating a related matter that may impact the current proceedings.

## Facts

Indiabulls Housing Finance Limited is the Petitioner.

Dr. Subhash Chandra is the Respondent and Personal Guarantor.

The order is issued under Section 95(1) of the Insolvency & Bankruptcy Code, 2016 (PIRP).

Mr. Sajeve Deora is the Ld. Counsel appearing for the Resolution Professional.

Most parties are present through their counsel.

A convenience compilation has been filed on behalf of the Union Bank of India.

The Central Bureau of Investigation (CBI) is investigating a matter that may have a bearing on the instant case.

Interim directions issued on 01.09.2026 shall continue till the final disposal of the case.

The matter, along with several interlocutory applications, is listed for arguments on 19.11.2026.

## Parties

- **Judges:** ANUPINDER SINGH…; BACHU VENKAT…; +3 more
- **Appellants:** Indiabulls…
- **Respondents:** Subhash C…
- **Other parties:** Union Bank of…; STCI Finance…; +13 more
- **Advocates:** Tushar…; Alok K…; +43 more

## Timeline

- **2026-09-01 — Interim Directions…**: Interim directions were issued, which are to continue until the final disposal of the…
- **2026-09-23 — Order Is…**: The NCLT issued the present order…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 95(1) — Application by creditor to initiate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-95)

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