Four banks challenge Subhash Chandra's Rs 6.25 crore repayment plan against Rs 22,006 crore dues
- Three more banks will appeal against the deal letting Zee founder Subhash Chandra repay just Rs 6.25 crore.
- Union Bank, Canara Bank and LIC Housing joined HDFC Bank in challenging the order at the appeals tribunal.
- Chandra owed lenders Rs 22,006 crore, meaning banks recover barely 3 paise for every Rs 100 owed.
- The plan was approved after 80.81% of creditors voted in its favour, making it binding on all creditors, including banks that opposed it.
Source: financialexpress.com
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