Zee's Subhash Chandra to pay just Rs 6.5 crore to settle a Rs. 22,006 crore debt
- NCLT has approved a repayment plan for Zee Group founder Subhash Chandra under which creditors will receive Rs 6.5 crore against admitted claims of Rs 22,006.57 crore.
- This outcome results in a 99.97% haircut for creditors and interestingly, the plan received support from ~ 81% of the creditors bloc.
- The tribunal, however, held that it could not substitute its own assessment for a commercial decision accepted by the majority of creditors.
Source: indianexpress.com
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