'Subhash Chandra's Rs 22k cr not loan write-off'
New Delhi: The National Company Law Tribunal's endorsement of a repayment arrangement for Essel Group patriarch Subhash Chandra does not signify that banks have voided roughly 99.97 percent of the Rs 22,000 crore in loans, according to insiders citing the insolvency court's edict. The Rs 22,006 crore sum represents claims admitted against Chandra in his role as a personal guarantor for loans taken out by various Essel/Zee-associated entities, not debt that he personally incurred, they said.
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- Subhash Chandra says NCLT insolvency claim is ₹3,992 cr, not ₹22,000 cr business-standard.com
