The office of Zee founder Subhash Chandra on Thursday issued a clarification over reports about his personal insolvency case before the National Company Law Tribunal (NCLT).
The office said some reports had presented the figures in the case without reflecting the current status of the proceedings. It said the Rs 22,000-crore figure being reported refers to total claims filed in the case and does not represent the amount currently owed by Chandra.
CHANDRA SAYS HE WAS ONLY A PERSONAL GUARANTOR
According to the clarification, Chandra did not borrow money from any lender in his personal capacity. He had only provided personal guarantees for loans taken by companies that were associated with the Essel Group.
(This is a developing story.)
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