Following a significant reduction in debt approved by the NCLT, LIC Housing Finance is set to recover just ₹39 lakh, which is 0.028% of its total admitted claim of ₹1,322.39 crore from media mogul Subhash Chandra. LIC, joined by other creditors such as Axis Bank and Canara Bank, had challenged Chandra's proposal to pay back only ₹6.5 crore toward total liabilities of ₹22,000 crore. Nevertheless, the dissenting lenders held a voting share of under 20%.
by shortkt.com✓