'Not haircut but mundan': Cong on NCLT clearing Subhash Chandra's Rs 6.5 crore payout

The insolvency tribunal NCLT approved a Rs 6.5 crore payout for Subhash Chandra’s dues. This settlement covers admitted creditor claims totaling approximately Rs 22,006 crore. Congress criticized the decision, calling it a “mundan” and mockery of the IBC. Lenders argued the repayment was too meager for approval by the tribunal. The tribunal approved the plan as a majority of creditors had voted in favor.

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