HDFC Rejects & To Challenge NCLT’s Zee Group Subhash Chandra Settlement of 22000Cr for 6.5Cr | LIVE

HDFC Rejects & To Challenge NCLT’s Zee Group Subhash Chandra Settlement of 22000Cr for 6.5Cr | LIVE ------------------------- DESCRIPTION: HDFC Bank has rejected the NCLT's approval of Zee Group founder Subhash Chandra's personal insolvency repayment plan and is set to challenge it in NCLAT. The NCLT approved a plan where Chandra will pay just Rs 6.5 Crore against admitted creditor claims of Rs 22,006.57 Crore - a 99.97% haircut for lenders. Creditors filed claims for loans backed by Chandra's personal guarantees. HDFC Bank said its admitted claim was only 3.2% (Rs 680 Cr) of the total, inherited from HDFC Ltd, and that it had voted AGAINST the resolution which was approved by 80.8% majority of creditors. Chandra's office disputes the Rs 22,000 Cr figure, claiming objecting creditors' dues are only Rs 3,992 Cr, of which Rs 620 Cr is already settled, and that his personal net worth is only Rs 31.8 Cr including his mortgaged house worth Rs 25 Cr. Borrowing entities have repaid Rs 43,000 Cr so far.Is this justice for banks? Will NCLAT overturn the order? Discuss LIVE with us. #HDFCBank #ZeeGroup #SubhashChandra #NCLT #NCLAT #ZeeEntertainment #EsselGroup #BankingNews #Insolvency #IBC #HDFC #BusinessNews #BreakingNews #StockMarket #ZeeNews Find us on Social Media Youtube-    / thepublicindia   Facebook- www.facebook.com/ThePublicIndiaChannel Twitter- www.twitter.com/ThePublicIndia Instagram- www.instagram.com/thepublicindia ————————- To conserve unbiased journalism in India, please support The Public India. To donate us directly through Credit/Debit Card, Wallets & UPI please click on this link- https://rzp.io/l/YpFFfUtb (For one-time payment) To donate through NEFT/RTGS- Bank Account Name- "The Public" Account Number- 2313392315 Bank Name- Kotak Mahindra Bank Limited Branch- Gomti Nagar, Lucknow IFSC- KKBK0005196 🎙️ New to streaming or looking to level up? Check out StreamYard and get ₹740 discount! 😍 https://streamyard.com/pal/d/52496341...