The Latest Breaking News from Subhash Chandra

Subhash Chandra moves NCLAT, challenges NCLT 5-member bench order against alienation of assets

Subhash Chandra has approached the NCLAT challenging a five-member NCLT bench order that stayed a third member’s decision approving his Rs 6.5 crore repayment plan against liabilities of around Rs 22,000 crore and restrained him from alienating assets. The NCLAT has asked Chandra’s counsel to serve copies on creditors and…

The Economic Times · Sep 23

ED chief orders action against IBC frauds, large haircuts to promoters

The ED director has ordered increased action on IBC fraud cases. He also directed steps for police FIR delays in certain states. Investigators must now fast-track high-profile trials for speedy convictions. The agency will also pursue restitution of attached and confiscated assets. A cadre restructuring will enhance the ED's investigation…

The Economic Times · Sep 15

The Subhash Chandra insolvency controversy explained

Zee Group founder Subhash Chandra has been at the centre of a long-running insolvency battle over debts he had personally guaranteed for.

Newslaundry · Sep 11

Subhash Chandra insolvency case: NCLAT defers hearing to October 7

NCLAT has deferred the insolvency proceedings against Zee founder Subhash Chandra to October 7 after his counsel challenged the constitution of a five-member NCLT bench.

The Economic Times · Sep 2

NCLT larger bench stays Subhash Chandra insolvency verdict

A larger, five-member bench of the National Company Law Tribunal has put the August 25 ruling of a smaller tribunal bench on hold – a decision that had come out of the insolvency proceedings against Zee Group founder Subhash Chandra, according to Bar and Bench.

Newslaundry · Sep 1

NCLT puts Subhash Chandra repayment plan on hold, bars him from alienating properties

A special NCLT bench issued notices and banned property alienation in Subhash Chandra's insolvency case. The tribunal noted no majority view on the proposed repayment plan. Creditors are set to recover a small fraction of their admitted claims. The case reached the five-member bench after differing views from a two-member…

The Economic Times · Sep 1

NCLT forms 5-member bench to decide on Subhash Chandra's Rs 6.5 crore repayment plan

A new five-member bench will decide Subhash Chandra's repayment plan. This personal insolvency case involves claims exceeding twenty-two thousand crore rupees. A previous division bench failed to reach a majority verdict on the plan. Dissenting lenders have approached the insolvency appellate tribunal regarding the matter. The bench will commence hearings…

The Economic Times · Aug 31

Subhash Chandra Rs 22,000 cr case: NCLT fails to get majority view on insolvency plan with 99.7 percent haircut

Subhash Chandra's insolvency case: A tribunal bench referred the case for fresh adjudication. Lenders opposed a proposed repayment plan offering a deep haircut. The appellate tribunal NCLAT will hear the lenders' plea against a third member's order. This dispute arises from differing interpretations of insolvency code provisions. The case involves…

The Economic Times · Aug 31

Subhash Chandra drops mention of Mukesh Ambani allegations, shifts focus to settling Essel debt

Subhash Chandra Rs 22,006 crore case: Zee founder Subhash Chandra has shifted focus from Ambani allegations. He is now addressing outstanding dues and defending his personal insolvency plan. Borrowers linked to his Essel Group have agreed to settle their obligations. Chandra stated he acted as a guarantor for these borrowing…

The Economic Times · Aug 31

Zee Entertainment shares crash 14% amid Subhash Chandra’s 99.97% loan haircut row

Zee Entertainment shares crashed on Monday after the NCLT approved a repayment plan involving founder Subhash Chandra. The plan entails a recovery of around Rs 6.5 crore against admitted creditor claims of Rs 22,006.57 crore, implying a 99.97% haircut.

The Economic Times · Aug 31