Subhash Chandra NCLT case: Creditors may recover just 0.028%, ₹6.25 crore payout on ₹22,006 crore claims

A repayment plan involving Essel Group founder Subhash Chandra has received majority support at the NCLT, with creditors set to recover only a tiny fraction of admitted claims. The case has drawn objections from lenders and reactions from Vijay Mallya and Jairam Ramesh.

New Delhi: Creditors of Essel Group founder Subhash Chandra are staring at an exceptionally small recovery under a repayment plan backed by a majority at the National Company Law Tribunal. Against admitted claims of about ₹22,006.57 crore, the plan sets aside just ₹6.25 crore for creditors, which works out to roughly 0.028%.

The proposal amounts to a haircut of nearly 99.97% and has already drawn sharp criticism from some lenders and political figures. The case comes from insolvency proceedings linked to Chandra’s personal guarantee for a ₹170 crore loan to Vivek Infracon, with the dispute now heading back to........

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