NCLT clears Subhash Chandra's ₹6.5 crore payout to settle ₹22,006 crore dues with nearly 99.97% haircut
NCLT approved Subhash Chandra's ₹6.5 crore payout to settle ₹22,006 crore dues with nearly 99.97% haircut.
Lenders, led by LIC Housing Finance, objected to the plan, citing it as "unviable and unlawful".
NCLT Member Nilesh Sharma rejected objections, citing the plan's approval by 80.81% of creditors and its binding effect on all creditors.