From Zee TV pioneer to ₹22,000 crore debt crisis: The Subhash Chandra story
Essel Group Chairman Subhash Chandra is at the centre of a major personal insolvency case involving admitted claims of around Rs 22,006.57 crore, against which creditors have approved a repayment plan of just Rs 6.25 crore. The National Company Law Tribunal (NCLT) has approved the plan, while another Rs 25 lakh has been earmarked towards the insolvency process.
The sharp gap between the claims and the proposed recovery has put the spotlight on Chandra, one of India’s best-known media entrepreneurs and the man who pioneered private satellite television broadcasting in the country.
