New Delhi: Dissenting lenders have alleged that five entities linked to media baron Subhash Chandra‘s family together controlled 61.78 per cent of the voting share and were instrumental in pushing through his personal insolvency resolution plan, which proposes to pay just Rs 6.5 crore against admitted creditor claims of about Rs 22,006.57 crore.
The lenders contended that the five entities were associates or related parties of Chandra and should have been barred from voting on the repayment plan. Their votes helped the plan secure an overall 80.814 per cent approval in the committee of creditors (CoC), according to a 144-page order of the National Company Law Tribunal (NCLT).
The five entities are Veena Investments Pvt Ltd, Direct Media…