The National Company Law Tribunal (NCLT) has approved a repayment plan in Zee Group founder Subhash Chandra’s personal insolvency case, letting him settle admitted claims of Rs 22,006 crore by paying just Rs 6.25 crore.
The order has drawn sharply different reactions: dissenting lenders call the payout unviable, government sources say the widely reported haircut figure is misleading, and Chandra himself disputes the size of the claim against him. Here’s how it played out.
What did the NCLT actually approve?
The Delhi bench of the tribunal approved the plan on Tuesday after a split verdict between two members was referred to a third, judicial member Nilesh Sharma, who cleared it under Section 114 of the Insolvency and Bankruptcy Code…