‘Two systems’: Rahul attacks Modi government over NCLT settlement plan for Subhash Chandra
Congress general secretary Jairam Ramesh described the settlement as 'not just a haircut' but a 'mundan'
Congress leader Rahul Gandhi criticized the Narendra Modi government on Thursday (August 27, 2026) for creating "two systems" in India - one for billionaires and another for ordinary citizens - following the National Company Law Tribunal's (NCLT) approval of a resolution plan for businessman Subhash Chandra. Gandhi questioned the fairness of the NCLT, sarcastically referring to it as "Neta-Company Loot Tribunal".
He argued that while a farmer who fails to pay even a small amount loses their land, and banks pursue homeowners for missed EMI payments, select individuals can withdraw unlimited bank funds and repay what they choose.
Gandhi's comments came after the NCLT approved a settlement plan that allows Chandra to pay just ₹6.5 crore towards ₹22,006.57 crore in creditor claims, resulting in a nearly 99.97% reduction for lenders. Congress general secretary Jairam Ramesh called the settlement a "complete mockery" of the Insolvency and Bankruptcy Code 2016, while Randeep Singh Surjewala accused the government of implementing "industrialist loan waivers" disguised as haircuts.
Surjewala demanded a Finance Minister disclosure of bank losses from NCLT proceedings over the past decade, asserting the amount could be "over ₹10 lakh crore".
Written by urgent.news from The Hindu's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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