Essel Group chairman Subhash Chandra has pushed back against criticism over his personal insolvency proceedings, saying the group has repaid around Rs 43,000 crore of the nearly Rs 45,000 crore it owed after its financial crisis in 2019.
In a video message, Chandra said he and his family sold personal assets, including their home, to meet the group’s repayment obligations. He also disputed the widely reported figure of around Rs 22,000 crore in claims against him before the National Company Law Tribunal (NCLT), saying the amount did not represent money he had personally borrowed.
His remarks came days after the NCLT approved a resolution plan under which Chandra would pay around Rs 6.5 crore against admitted claims of approximately Rs…