HDFC Bank to challenge nod to NCLT's 99.97% haircut to Subhash Chandra

HDFC Bank said it is "exploring an appeal" against NCLT's decision to approve a 99.97% haircut for Subhash Chandra's debt of ₹22,006.57 crore. "Admitted claim was only 3.2% of the total stated amount...[We] had voted against this resolution, which was approved by the majority," HDFC Bank added. Chandra is required to pay creditors only ₹6.5 crore under the settlement plan.