business βοΈ Chandra's repayment plan gets NCLT nod
The National Company Law Tribunal (NCLT) approved a repayment plan proposed by Zee group's Subhash Chandra. This decision was made by the third judicial member, Nilesh Sharma, after the original members disagreed on the matter. Chandra will pay just βΉ6.5 crore against admitted creditor claims totaling about βΉ22,006.57 crore. This means creditors will only recover around 0.03% of their admitted dues. The plan was voted on by creditors in November 2024 and is now set for final implementation directions. πΈ