Economy
NCLT Approves Subhash Chandra Debt Settlement with 99% Haircut
The Hindu2h
THE BRIEF
1
The NCLT New Delhi Bench approved a repayment plan for Zee Media founder Subhash Chandra, allowing him to settle personal guarantee claims of ₹22,006.57 crore by paying only ₹6.5 crore.
2
The decision was forced by 80.814% of creditors who voted in favor of the plan, compelling dissenting banks like Axis, RBL, and IndusInd to accept a haircut exceeding 99%.
3
The court ordered the Resolution Professional to exclude claims from 1,260 individuals associated with Chandra and redistribute the ₹6.5 crore among the remaining eligible creditors.