Economy
Creditors to Recover Only ₹6.5 Crore in Subhash Chandra Insolvency
The Hindu2h
THE BRIEF
1
The National Company Law Tribunal approved a repayment plan for Essel Group founder Subhash Chandra, allowing creditors to recover only ₹6.5 crore against admitted claims of ₹22,006.57 crore.
2
The recovery represents a haircut of approximately 99.97% for lenders, stemming from a personal guarantee provided by Mr. Chandra for a ₹170-crore loan to Vivek Infracon Private Limited.
3
Several creditors, including HDFC Bank, have formally opposed the NCLT-approved plan and are currently evaluating options to file an appeal against the resolution.