Essel Group's Subhash Chandra seeks independent auditor for borrowings
Essel Group founder says around ₹43,000 crore of ₹45,000 crore borrowings has been repaid, rejects claims that NCLT proceedings involve ₹22,000 crore
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.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- 'Subhash Chandra's Rs 22k cr not loan write-off' economictimes.indiatimes.com
- Subhash Chandra says NCLT insolvency claim is ₹3,992 cr, not ₹22,000 cr business-standard.com
