Zee’s Subhash Chandra gets NCLT nod for Rs 6.5 crore repayment against Rs 22,006 crore claims
NEW DELHI: The National Company Law Tribunal’s Delhi Bench has approved a repayment plan submitted by Zee group founder Subhash Chandra in his personal insolvency proceedings despite strong objections from financial creditors over the size of the proposed recovery.
The plan provides for payment of Rs 6.25 crore to creditors and Rs 25 lakh towards process costs, against admitted claims of about Rs 22,006 crore. Creditors opposing the plan argued that the Rs 6.5-crore amount was only indicative and depended on the future sale value of shares.
