Essel Group Chairman Subhash Chandra. | Picture: Screenshot through X/@subhashchandra.
The story to this point: The Nationwide Firm Regulation Tribunal (NCLT) on August 25 accredited a reimbursement plan for Essel Group founder Subhash Chandra beneath the Insolvency and Chapter Code, 2016 (IBC). Beneath the plan, ₹6.25 crore will probably be paid to collectors and ₹25 lakh in direction of the insolvency decision course of prices. That is towards admitted claims of ₹22,006.57 crore, implying a restoration of about 0.03%, or a haircut of practically 99.97%, which implies a drop within the worth of collateral property, which reduces the lender’s safety towards losses. Some collectors, together with HDFC Financial institution, have opposed the plan and are contemplating an enchantment.
The case earlier than the NCLT involved Mr. Chandra’s legal responsibility as a private guarantor and was not towards the Essel Group as a company entity.
Printed – August 30, 2026 06:26 pm IST
