It's actually a 'mundan': Congress as Subhash Chandra gets nod for 99.97% haircut on dues

Congress MP Jairam Ramesh reacted to Zee Founder Subhash Chandra getting NCLT's nod to pay ₹6.5 crore to settle dues worth ₹22,000 crore, a number that Chandra has disputed, with a 99.97% haircut. Ramesh explained what 'haircut' means in finance, saying, "This isn't just a haircut. It's actually a 'mundan' (tonsure)." "It makes complete mockery of Insolvency Code," he added.