Subhash Chandra gets relief in personal guarantee case as leading banks face 99% haircut
Subhash Chandra received relief in a personal guarantee case after creditors, holding over 80% voting rights, approved a repayment plan. The plan allows Chandra to pay ₹6.5 crore against claims totaling ₹22,006.57 crore, marking a significant 99% haircut for the banks involved. This ruling could influence future insolvency proceedings in India.