‘Don’t Be Misled’: Subhash Chandra Rejects Claims He Personally Borrowed ₹22,000 Crore
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Dr Subhash Chandra Rejects ₹22,000 Crore Loan Claims, Calls Reports ‘False’
Essel Group founder Dr Subhash Chandra has broken his silence over the controversy surrounding the National Company Law Tribunal (NCLT) order approving a ₹6.5-crore repayment plan in his personal insolvency proceedings. Chandra has rejected reports suggesting that he personally borrowed around ₹22,000 crore and was allowed to settle the amount for a fraction of the claimed sum.
Chandra’s clarification states that the ₹22,006-crore figure relates to claims arising from personal guarantees he provided for loans taken by Essel Group-linked companies, rather than a ₹22,000-crore personal loan taken by him.
His response comes after widespread reports and social-media posts portrayed the NCLT decision as a massive reduction in his personal debt. Chandra has urged people not to be misled by such reports and to verify the facts.
