Why HDFC Bank plans to challenge NCLT order on Subhash Chandra?

HDFC Bank is considering an appeal before the NCLAT against an NCLT order approving a repayment plan for Essel Group founder Subhash Chandra. The plan provides ₹6.25 crore to creditors against admitted claims of about ₹22,006.57 crore, implying a 99.97% haircut. It said its admitted claim was 3.2% of the total and that it opposed the settlement, which creditors approved.