Subhash Chandra insolvency: Why are creditors set to recover only ₹6.5 crore against ₹22,006 crore claims?

The case concerns proceedings by Indiabulls Housing Finance over a ₹170-crore loan given to Vivek Infracon Private Limited, for which Mr. Chandra had provided a personal guarantee

Canara Bank, Union Bank challenge NCLT's approval of Subhash Chandra's repayment plan offering creditors just 0.03% recovery.MUMBAI: Canara Bank and Union Bank of India are challenging NCLT's approval of Zee group founder Subhash Chandra's repayment plan, under which creditors would recover 0.03% of their admitted clai

In the statement, Union Bank of India, along with other creditors, including Canara Bank and LIC Housing Finance, had voted against the resolution plan and opposed its approval before the NCLT.