“I have not borrowed any money from any lender,” Zee Group founder Subhash Chandra said on Thursday, clarifying that he was only a personal guarantor for borrowings raised by companies associated with the Essel Group. His statement came after the National Company Law Tribunal approved a ₹6.5-crore repayment plan in his personal insolvency proceedings against admitted claims of ₹21,696 crore.
Chandra also pushed back against the ₹22,006-crore figure being cited in reports, saying, “All the numbers being quoted in the reports as judgement are taken from the documents as total claims filed. It does not represent the current status.” He said the underlying borrowing entities had repaid around ₹43,000 crore since January 2019….