In a media assertion, a Reliance spokesperson stated the group was “dismayed” by Chandra’s remarks and strongly denied the allegations in opposition to its media businesses.
“We strongly deny the allegations and insinuations in opposition to the media entities which can be part of the Reliance Group. Our media manufacturers have by no means been used to assault anybody, nor will they ever be,” the spokesperson stated.
The group additionally stated it held Chandra in excessive regard as a businessman and entrepreneur.
“We maintain Shri Subhash Chandra in excessive regard as a businessman and entrepreneur. We want him nicely,” the spokesperson added.
Subhash Chandra has disputed a declare of round Rs 3,900 crore filed in opposition to him earlier than the Nationwide Firm Legislation Tribunal (NCLT), saying that many of the debt raised by his group has already been repaid. In his first detailed response to the NCLT proceedings, Chandra stated the matter pertains to non-public ensures he had offered to sure lenders and questioned the idea of the claims made earlier than the tribunal.
In a video message, Chandra stated his group had initially borrowed round Rs 45,000 crore, of which roughly Rs 43,000 crore had been repaid. This left round Rs 2,000 crore excellent from corporations whose belongings and liabilities, he stated, have been mismatched.
