Rahul Gandhi Targets Modi Govt Over Subhash Chandra's NCLT Repayment Plan

Congress leader Rahul Gandhi has criticized the Narendra Modi government's decision to approve a repayment plan for Zee Group founder Subhash Chandra, as approved by the National Company Law Tribunal (NCLT). The NCLT's decision allows creditors to recover only around ₹6.5 crore against admitted claims of approximately ₹22,006.57 crore, highlighting what Gandhi describes as a "two-system" financial model in the country.

In a post on X, Gandhi compared the treatment of ordinary citizens and wealthy individuals, pointing out that farmers face land seizure for small unpaid dues, while salaried individuals can face home repossession from banks for a single missed loan installment. He also mentioned that poor students don't receive loans for education, while "select friends" of the government receive more favorable treatment from banks.

The NCLT approved the repayment plan, reducing creditors' claims by roughly 99.97%. Despite objections from lenders like LIC Housing Finance, the plan received 80.81% approval among creditors, with opposition accounting for less than 20% of the voting share. The tribunal noted that Subhash Chandra's personal assets were valued significantly less than the amount offered in the repayment plan, and rejecting the plan could result in even lower recoveries for creditors.