How Subhash Chandra’s Rs 6.25-crore resolution proposal sailed through
The National Company Law Tribunal (NCLT) approved Subhash Chandra's proposal to pay Rs 6.25 crore to creditors during personal insolvency proceedings. However, banks have raised concerns, stating that at least five entities linked to Chandra hold 61.78% of the votes cast and supported the repayment plan. Out of 23 creditors who participated in the voting, banks received only 19.186% of the vote share, opposing the plan.
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