Subhash Chandra gets relief in personal guarantee case as banks accept 99% haircut
27 Aug 2026Updated 19 days ago1 source
Subhash Chandra has secured relief in a personal guarantee case after creditors approved a repayment plan. Under the approved plan, leading banks face a 99% haircut, recovering just ₹6.5 crore against total claims of ₹22,006.57 crore. The court left the final commercial decision to the creditors, who held over 80% of the voting rights.
NIKAN Intelligence
What happened
Creditors holding more than 80% of the voting rights approved a Repayment Plan for Subhash Chandra in a personal guarantee case. Under this plan, banks will receive just ₹6.5 crore against total outstanding claims of ₹22,006.57 crore, resulting in a 99% haircut.
Why it matters
The case highlights the massive financial concessions that leading Indian banks are willing to make in high-profile settlement cases. It also emphasizes the court's stance of leaving commercial decisions entirely to the discretion of the creditors.
What we know
- Creditors with over 80% voting rights approved the Repayment Plan.
- The total claims against Subhash Chandra amounted to ₹22,006.57 crore.
- The approved repayment amount is ₹6.5 crore, representing a 99% haircut for the creditors.
- The court deferred the commercial decision to the judgment of the creditors.
What we don't know
- The specific names of the leading banks that are facing the haircut.
- The timeline within which the ₹6.5 crore will be paid.
- Whether any minority creditors plan to challenge the approved plan.
What's next
The implementation and execution of the approved ₹6.5 crore Repayment Plan to the creditors.
Generated by NIKAN's analysis engine from the cited reports only. Nothing here is invented; gaps are shown as unknowns. Always read the original coverage linked below.
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