NCLT Subhash Chandra Case: Rs 22,000 crore is not bank loan write-off, sources on order
New Delhi: The National Company Law Tribunal’s approval of a repayment plan for Essel Group founder Subhash Chandra does not mean banks have written off 99.97 per cent of Rs 22,000 crore in loans, sources said, citing the insolvency court’s order.
The Rs 22,006 crore figure represents claims admitted against Chandra in his capacity as a personal guarantor for loans taken by several Essel/Zee-linked companies, not debt personally borrowed by him, they said.
