How 'haircut' chopped ₹22,006 cr debt to just ₹6.5 cr
The National Company Law Tribunal (NCLT) recently approved a repayment plan for Subhash Chandra, the founder of the Zee Group, in his insolvency case. Under the plan, Chandra would pay just Rs 6.25 crore to settle admitted claims of Rs 22,006 crore. However, this 99.97% "haircut" figure is misleading, as the Rs 22,006 crore represents only claims admitted against Chandra as a personal guarantor. The remaining debt remains the responsibility of the principal borrowing companies.
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