NCLT approves Subhash Chandra's ₹6.5 crore repayment plan amid massive claims

The National Company Law Tribunal has approved a debt restructuring plan for media and business tycoon Subhash Chandra, allowing him to repay ₹6.5 crore against claims totalling ₹22,006.57 crore, according to official documents reviewed by the tribunal.

The approval came after creditors holding 80.81 per cent of the voting share voted in favour of the repayment proposal, meeting the legal threshold required for acceptance under insolvency proceedings. The significant backing from secured and unsecured creditors underscores their confidence in the restructuring framework.

The plan represents a substantial reduction from the total claimed amount, reflecting negotiations between Chandra's representatives and the creditor committee. Under the approved arrangement, the repayment schedule and modalities will be implemented in accordance with the tribunal's supervision and relevant insolvency laws.

Chandra, whose business interests span television broadcasting, print media, and financial services, has faced substantial financial pressures in recent years. This restructuring marks a significant development in resolving his outstanding liabilities while allowing continuity of viable business operations.