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NCLT Seeks CBI Reply on Subhash Chandra's ₹6.25 Crore Zee Repayment Plan
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CNBC TV18•23-09-2026, 12:59
NCLT Seeks CBI Reply on Subhash Chandra's ₹6.25 Crore Zee Repayment Plan
- •The National Company Law Tribunal (NCLT) has requested the Central Bureau of Investigation (CBI) to respond within four weeks regarding Zee founder Subhash Chandra's personal insolvency case.
- •The hearing was postponed due to a shortage of benches, with the NCLT noting the CBI probe could impact the case, despite Chandra's objection to the agency's involvement.
- •The CBI filed an FIR against Chandra in August based on a complaint from LIC Housing Finance (LIC HF) alleging a wrongful loss of ₹1,322 crore.
- •Chandra's repayment plan of ₹6.25 crore for creditors, plus ₹25 lakh for insolvency costs, secured 80.81% support by value, despite admitted claims totaling ₹22,006.57 crore.
- •A five-member special bench was formed after conflicting rulings on Chandra's plan, which subsequently barred him from selling assets and stayed the approval order.
Key Questions Answered
The personal insolvency case filed against Zee founder Subhash Chandra involves admitted claims totaling ₹22,006.57 crore.
Subhash Chandra proposed a repayment plan of ₹6.25 crore to his creditors, along with an additional ₹25 lakh allocated toward insolvency costs.
The National Company Law Tribunal asked the CBI to respond within four weeks because an ongoing CBI probe into an FIR filed against Chandra could have a bearing on the personal insolvency proceedings.
