business โ๏ธ Chandra's liability slashed in NCLT insolvency case ๐
The NCLT has ruled to drastically reduce Subhash Chandra's liability from over โน22K crore to just โน6.25 crore. This decision was made by the NCLT in the insolvency proceedings initiated by Indiabulls Housing Finance Limited in 2022. The repayment plan allocates โน6.25 crore against admitted claims totaling approximately โน22,006.57 crore. While some creditors opposed the plan, the NCLT member approved it after reviewing conflicting opinions. The final order will be given by the original bench, setting the next step for resolution.