Why NCLT didn't object to Chandra's ₹6.25-cr offer to settle ₹22,000-cr debt
The NCLT cleared Zee Founder Subhash Chandra's proposal to pay ₹6.25 crore to resolve outstanding dues of ₹22,000 crore. According to the tribunal, its responsibility was limited to checking if the resolution plan complied with the country's bankruptcy laws, if the voting process was correct, and if there was any legal ground for intervention. Furthermore, the settlement figure had already been agreed upon by the creditors who filed the lawsuit against Chandra.
by shortkt.com✓