3 days ago
Subhash Chandra Seeks Reconciliation of ₹4,262 Crore Lender Dues
Subhash Chandra is involved in a case about money he personally promised to repay to lenders.
A court-approved plan lets him pay ₹6.5 crore, even though lenders admitted claims of more than ₹22,000 crore.
Chandra says the lenders’ total outstanding dues are ₹4,262 crore.
He questioned whether some HDFC claims were supported by valid personal guarantees.
He also discussed dues owed to LIC Housing Finance, Canara Bank and Union Bank.
Several lenders have objected to the repayment plan or are considering an appeal.
Chandra said the difference between earlier figures and ₹4,262 crore is because some accounts were previously left out.
He said he has discussed the matter with borrowers and received an assurance to settle the amount after checking the accounts.
The dispute followed social-media calls using hashtags such as #PaiseVapasKaro.
Subhash Chandra said lenders have claimed ₹4,262 crore in outstanding dues in his personal insolvency matter.
He questioned ₹775 crore claimed across four HDFC Group accounts, saying the claims lacked valid personal guarantees.
Chandra cited ₹1,322 crore owed to LIC Housing Finance and said he had offered a settlement with some security available.
HDFC, LIC Housing Finance, Canara Bank and Union Bank are considering or pursuing appeals against the NCLT-approved repayment plan.
The plan allows Chandra to repay ₹6.5 crore against admitted claims exceeding ₹22,000 crore, while he seeks reconciliation with lenders.
- Who
- Zee Group founder Subhash Chandra and lenders including HDFC Group, LIC Housing Finance, Canara Bank and Union Bank.
- What
- Chandra provided details of lender claims totaling ₹4,262 crore and sought reconciliation of the accounts.
- Where
- In connection with Chandra’s personal insolvency proceedings before the National Company Law Tribunal.
- When
- Sunday, in a statement published on August 30, 2026.
- Why
- Chandra said social-media criticism was based on a mistaken understanding and urged lenders to reconcile accounts and recover their dues.
Subhash Chandra’s Position
Lenders’ Position
Validity of claims
Subhash Chandra’s Position
Chandra said some HDFC claims were made without valid personal guarantees and that the accounts should be reconciled.
Lenders’ Position
HDFC has made claims in the insolvency matter and is among the lenders considering an appeal against the NCLT order.
Repayment plan
Subhash Chandra’s Position
Chandra defended the court-approved plan and said he expected the ₹4,262 crore in dues to be settled after reconciliation.
Lenders’ Position
HDFC, LIC Housing Finance, Canara Bank and Union Bank objected to or pursued challenges against the plan allowing repayment of ₹6.5 crore.
Public criticism
Subhash Chandra’s Position
Chandra’s office said social-media criticism under hashtags such as #PaiseVapasKaro reflected a wrong perception of the matter.
Lenders’ Position
The campaign called for money to be returned, reflecting public concern over the gap between admitted claims and the approved repayment amount.
Key facts
- Total lender dues cited
- ₹4,262 crore
- NCLT-approved repayment
- ₹6.5 crore
- Admitted claims
- More than ₹22,000 crore
- HDFC Group accounts
- ₹775 crore across four of five accounts; Chandra’s statement described the claims as lacking valid personal guarantees.
- LIC Housing Finance
- ₹1,322 crore; Chandra said he offered to settle, with some security available.
- Other cited lenders
- Canara Bank: ₹348 crore; Union Bank: ₹164 crore.
- Earlier total cited
- ₹3,992 crore; Chandra’s office attributed the difference to accounts previously excluded because they had not voted.
Quotes
Subhash Chandra’s office
Office representing Zee Group founder Subhash Chandra
“Subhash Chandra hopes that the lenders will also engage with the borrowers, reconcile the outstanding accounts and recover their dues. He also hopes that those who supported #PaisaWapasKaro, as well as others commenting on social media will be satisfied with this”
thehindubusinessline.com
“Amounts differ from the earlier press statement of ₹ 3,992 crore and ₹4,262 crore because some accounts were not taken as they neither voted for or against”
thehindubusinessline.com
Sources
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