Union Bank to Challenge NCLT Approval of Subhash Chandra's Resolution Plan

Union Bank has stated that it will challenge the National Company Law Tribunal's (NCLT) approval of Subhash Chandra's resolution plan. The resolution plan was previously sanctioned by the NCLT, but Union Bank has expressed concerns over its terms. The bank intends to file a formal petition in the NCLT to seek a review of the approval. No further details have been released regarding the grounds of the challenge. The case is expected to be heard in the coming weeks.