π¦ HDFC Bank eyeing appeal on Subhash Chandra payout
HDFC Bank is considering appealing the NCLT's nod to a resolution plan requiring Subhash Chandra to pay βΉ6.25 crore as a personal guarantor. The bank opposed the settlement, which was approved by a majority of creditors regarding admitted claims of βΉ22,000.57 crore on a specific date. Chandra disputes the claim size, stating his personal borrowings are not the basis for insolvency proceedings. Other lenders are also exploring an appeal to NCLAT due to the unviable recovery terms. The NCLT plan is binding on covered creditors, despite the exceptionally high haircut. π§