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HDFC to Challenge Near-Total Haircut on Claims Against Zee's Subhash Chandra

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HDFC is planning to appeal against a resolution plan that effectively wipes out 99.97% of creditor claims against Zee Entertainment founder Subhash Chandra. A majority of assenting creditors (80.8%) supported the Rs 6.5 crore settlement plan, arguing it was a better outcome than pushing Chandra into personal bankruptcy. The resolution professional assessed Chandra's net worth at just Rs 31.8 crore, with Rs 25 crore of that tied up in his mortgaged home. Chandra has contested the Rs 22,000 crore liability, saying it was based on historical claims filed in 2022.

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