NCLT Slashes Subhash Chandra's Debt from Rs 22,006 Crore to Rs 6.5 Crore

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The National Company Law Tribunal (NCLT) has approved a resolution plan in the personal insolvency proceedings of media mogul Subhash Chandra, dramatically reducing his outstanding debt. His total liability of Rs 22,006 crore has been cut down to just Rs 6.5 crore following the tribunal's order. This marks a significant development in Chandra's personal insolvency case, which had been ongoing before the NCLT. The ruling provides substantial financial relief to the Essel Group founder, effectively resolving the bulk of his personal debt obligations.

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