IndiaToday(@IndiaToday):The NCLT cleared a debt resolution plan allowing Essel Group founder #SubhashChandra to settle creditor claims of about 22,000 crore rupees by paying 6.5 crore rupees. The decision represents a 99.97% haircut for lenders and a recovery of just 0.03%. Congress leaders criticised the move, while Chandra said he was only a personal guarantor and that the claims against him were misrepresented. #NewsToday

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IndiaToday@IndiaToday

2026.08.30 08:05

The NCLT cleared a debt resolution plan allowing Essel Group founder #SubhashChandra# to settle creditor claims of about 22,000 crore rupees by paying 6.5 crore rupees. The decision represents a 99.97% haircut for lenders and a recovery of just 0.03%. Congress leaders criticised the move, while Chandra said he was only a personal guarantor and that the claims against him were misrepresented. #NewsToday# | @SardesaiRajdeep