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CJ of the state high court is the chancellor of all NLUs except NLS, NUJS, GNLU where CJI is the Chancellor
Not all. I think one NLU has the governor as the Chancellor, can't remember which one.
This is old news. NALSAR has made the payment of dues and is fully recognized.
The law is not equal for unequals, if this was some other college BCI would have imposed a hefty fine/withdrew the accreditation.

Since the Chief Justice (HC) is chancellor, the university would be given adequate time to comply
What is the actual gap in compliance? BnB report is not clear? Do they not have enough qualified faculty? Infrastructure?
There is no gap. The BCI permit expires after every five years. The university needs to pay a renewal fee and a BCI team comes for inspection after which the license will be renewed. Fairly routine procedure insofar as any standard NLU is concerned.