Zee Group founder Subhash Chandra on Sunday shared details pertaining to the NCLT order of settlement after hashtags like ‘PaisaVapasKaro’ trends on social media.
“I have seen and observed social media posts since the past three days on the above issue. Some of the posts also included hashtags like #PaiseVapasKaro. There has been a wrong perception and understanding about the matter,” he said in an official statement.
On August 27, the National Company Law Tribunal (NCLT) approved a repayment plan submitted by Chandra in his personal insolvency case, under which creditors will recover just Rs 6.5 crore against admitted claims of Rs 22,006.57 crore, a haircut of nearly 99.97%.
Chandra said he had not personally borrowed any money, while the total value of personal guarantees he had signed stood at Rs 22,000 crore.
(This is a developing story)
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