NCLT STOPS Subhash Chandra’s ₹6.5 Cr Settlement!

Zee Group founder Subhash Chandra ke personal guarantee case mein NCLT ne settlement order par stay laga diya. Pehle order mein ₹22,006 crore ki admitted liabilities ke against ₹6.25 crore ka proposal approve hua tha — implying a massive 99.97% haircut for lenders. LIC Housing Finance, HDFC, Axis Bank aur Canara Bank jaise lenders ne is settlement par objections raise kiye. Baad mein NCLT ki 5-member Special Bench ne earlier order ko review karte hue kaha ki the earlier bench did not have a clear majority decision, putting the settlement on hold. But here's the catch 👇 Subhash Chandra says these borrowings were taken by Essel Group infrastructure companies, with him providing personal guarantees. He has also claimed his current personal net worth is around ₹35 crore. So, should personal guarantors get such massive discounts when settling debt? 🤔 Tell us your opinion in the comments! Subscribe to Planify for quick updates on Indian markets, unlisted shares, IPOs, SME stocks & finance.