What will happen next as NCLT pauses Subhash Chandra's 99.97% haircut?
The NCLT halted Zee Founder Subhash Chandra's plan to settle ₹22,000-crore debt by paying ₹6.5 crore under a case initiated by Indiabulls Housing Finance. Chandra's plan will now be re-examined by a five-member bench, larger than the three-member bench that earlier approved the plan. Additionally, he has been barred from directly or indirectly transferring or selling his assets.