Overview
- A third NCLT judicial member approved a repayment plan under Section 114 that envisages roughly ₹6.25–6.5 crore from Subhash Chandra against admitted claims of about ₹22,006.57 crore.
- The plan secured about 80.81% of creditor votes and the tribunal relied on the resolution professional’s valuation that Chandra’s personal estate could not yield higher recoveries.
- Dissenting lenders including HDFC Bank and LIC Housing Finance say the payout is unviable, contest related-party voting and are preparing appeals to the National Company Law Appellate Tribunal.
- Chandra’s office and government sources stress the ₹22,006 crore figure records claims against him as a guarantor rather than direct personal borrowings, and the settlement leaves principal borrowers and securities open for separate recovery.
- If the regular NCLT bench issues formal orders the plan will bind creditors under Section 115 of the IBC, a development that could prompt legal scrutiny of creditor voting, valuation methods and enforcement routes going forward.