NCLAT to review lenders' challenge against Subhash Chandra's settlement proposal
The NCLAT has decided to hold an urgent hearing regarding a petition from creditors, such as Union Bank, HDFC, and LIC Housing Finance. These lenders are contesting the Delhi NCLT's decision to greenlight the repayment strategy proposed by Zee Group founder Subhash Chandra. The matter is set to be heard on Tuesday at 10:30 am. As per the accepted proposal, Chandra is set to pay a total of ₹6.5 crore, which breaks down to ₹6.25 crore for the creditors and ₹25 lakh to cover insolvency-related expenses.
by shortkt.com✓