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Chandra’s Debt Settlement Under Fire | India News
HDFC Bank is challenging a tribunal’s approval of a sweetheart repayment plan for Subhash Chandra, letting him off the hook for just 6.25 crore rupees — a fraction of the 22,000 crore he personally guaranteed. The bank, which inherited the debt, opposed the deal but lost in court as creditors voted 81% in favor. Chandra’s team argues the real claim is only 4,000 crore and that his companies have already repaid 43,000 crore, questioning how banks valued his assets so high. The tribunal, after a split decision, sided with the settlement, fearing bankruptcy would yield even less. This case…
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