Lenders including HDFC Bank, LIC Housing Finance and Union Bank of India (UK) are moving against the NCLT’s approval of Subhash Chandra’s repayment plan, with the lenders questioning the voting process and the eligibility of certain creditors who backed the proposal. Union Bank of India (UK) said it had rejected the plan along with lenders including Canara Bank and LIC Housing Finance and would "immediately" challenge the NCLT decision before the NCLAT. LIC Housing Finance said it would file an appeal along with other public financial institutions. 17 per cent voting share, said it had opposed and voted against the resolution and was exploring an appeal. 814 per cent of the voting share. 99 per cent). 55 per cent). 10 per cent did not vote. The dissenting lenders had argued that five entities - Veena Investments, Direct Media Distribution Ventures, World Crest Advisors, Lemonade Capital Advisors and Corpcall Capital Advisors, were associates of Chandra and should therefore not have been allowed to vote. 78 per cent of the voting share. They also raised concerns over the speed of the process. Chandra submitted the plan on October 16, the Resolution Professional filed his report on October 17, and the creditors’ meeting was held on October 24. Creditors were asked to evaluate claims of around Rs 21,697 crore, with the voting period later extended to October 31. Advt The lenders had also questioned the adequacy of Chandra’s asset disclosures and sought an independent forensic audit and asset-tracing exercise. 79 crore cited in the proceedings.