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Jaya - Author on ShareChat
Jaya
561 views • 5 hours ago
CAPITAL INSIGHT INVEST SMART BUILD STRONG SUBHASH CHANDRA NCLT COMPANY  NCLT WATIONAL TRIBUNAL  LIW NCLT approves Subhash Chandra's personal insolvency plan 722,006.57 Cr in admitted claims CLAIMS VS SETTLEMENT settled for just ২6.5 Cr ADMITTED CLAIMS  722,006.57 Cr This implies a staggering ~99.97% haircut for lenders VS 80.81% of creditors voted in favour; SETTLEMENT AMOUNT meeting the IBC approval threshold 565 Cr ২6.25 Cr to lenders HAIRCUT FOR LENDERS ২25 Lakh towards process costs  ~99.97% LICHFL DISSENTED: LIC HFL 71,322.39 Cr claim VS just ২ 38.09 Lakh payout  LIC HOUSING FINANCE LTD Key NCLT noted that bankruptcy takeaway: proceedings were unlikely to Lenders retain the right generate meaningful recovery to pursue the primary from Chandra s personal estate borrower companies  estimated at only ~২31.8 Cr directly 722,000+ Cr CLAIMS 76.5 Cr SETTLEMENT VS 2 FAIR RESOLUTION OR MASSIVE LENDER HAIRCUT? Note: This resolution is in persona insolvency of Subhash Chandra company entities remain unaffected Claims' against
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