Essel Group founder Subhash Chandra on Thursday said media reports on his personal insolvency proceedings before the National Company Law Tribunal (NCLT) had misrepresented the quantum of claims against him and stated that the relevant claims totalled ₹3,992 crore and not ₹22,000 crore.
“I have to state that certain vested media houses are spreading wrong information about my personal insolvency matter in NCLT,” Chandra said in a statement. He urged media organisations to publish the facts and remove information that had been “incorrectly interpreted from the Court order”.
Chandra said he had not personally borrowed money from the lenders involved in the proceedings and was facing the insolvency process only in his…