Subhash Chandra to pay only ₹39 lakh to LIC Housing Finance to settle ₹1,322-crore dues

After an unusually steep haircut approved by NCLT, LIC Housing Finance will receive only ₹39 lakh or 0.028% of its admitted ₹1,322.39-crore claim from media baron Subhash Chandra. LIC, along with lenders like Canara and Axis banks, had opposed Chandra's plan to repay just ₹6.5 crore against ₹22,000-crore dues. However, opposing lenders represented less than 20% of the voting share.