Archive · 12 Jun 2025
Essel Group Recovers ₹600 Crore in Dues from States
The Essel Group, led by Subhash Chandra, has successfully recovered about ₹600 crore from different state governments.
They had been working on getting the money back since 2019.
This money was owed to them from past projects like the Sion-Panvel highway.
They hope to recover even more, potentially ₹1,200 crore, in the next year and a half.
The group is deciding how to use the recovered money, which might be in their current businesses or in new ventures like AI in video news.
Previously, they sold parts of the business to reduce debt.
Essel Group promoters recovered approximately ₹600 crore from state governments.
Recoveries were made on Thursday, with the process initiated in 2019.
The group aims to recover an additional ₹1,200 crore in the next 1.5 years.
Funds were recovered from Maharashtra, Madhya Pradesh, and Haryana.
The recovered amount's reinvestment strategy is currently under evaluation.
- Who
- Promoters of Subhash Chandra's Essel Group.
- What
- Essel Group promoters recovered nearly ₹600 crore in dues.
- When
- Recoveries were made on Thursday, with the process beginning in 2019.
- Where
- Funds were recovered from Maharashtra, Madhya Pradesh, and Haryana.
- Why
- To recover debts owed by state governments.
- Amount Recovered
- ₹600 crore
- Potential Future Recovery
- ₹1,200 crore
- Recovery Period Start
- 2019
- Key Stakeholder
- Subhash Chandra
- Debt Reduction Strategy
- Sale of assets