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Group entities to reconcile, settle dues with lenders: Essel Chairman - The Economic Times
Subhash Chandra, the chairman of Essel Group, reassured lenders regarding the reconciliation of outstanding dues from borrowers. He highlighted that his personal debt stands at zero, backed by ₹22,000 crore in personal guarantees. The repayment strategy involves Chandra committing ₹6.25 crore from his own resources, while other entities cover ₹1,494 crore. Although most amounts have been repaid, some lenders are challenging the NCLT-approved plan and are considering appeals.
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Subhash Chandra Insolvency Case: NCLAT To Hear Creditors’ Challenge Against NCLT Repayment Plan Tomorrow
https://www.freepressjournal.in/business/subhash-chandra-insolvency-case-nclat-to-hear-creditors-challenge-against-nclt-repayment-plan-tomorrow