The National Company Law Appellate Tribunal has issued notices to lenders on a plea by Zee founder Subhash Chandra in a Rs 2,006 crore insolvency case. The next hearing is set for late October.

Chandra's plea challenges an NCLT order in the insolvency proceedings linked to his personal guarantees on company borrowings. He is also seeking restraint on the sale of his assets during the case.

The tribunal asked the creditors to respond to the plea. The case is part of the long-running legal battles that followed the debt crisis at the Zee group.

The October hearing will decide how the case proceeds. Creditors, meanwhile, are pushing to recover dues they say are owed under the guarantees.

The case adds to the long list of legal disputes from the Zee group's debt crisis, which lenders have pursued through several courts. Chandra's legal team has argued that the restraint on asset sales sought by creditors goes beyond what the law allows. Market watchers say the October hearing will be closely tracked.