Mudasir 4K
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Subhash Chandra’s Essel Group reached an understanding to repay the settlement amount in a phased manner by 31 March and is close to signing a definitive agreement
Essel Group founder Subhash Chandra is poised to settle the ₹6,500 crore debt it owes JC Flowers Asset Reconstruction Co. (ARC) for close to ₹1,500 crore to regain ownership of the family’s stake in assets, including Dish TV and Zee Learn, as well as three properties, including a bungalow in central Delhi.
Chandra’s Essel Group reached an understanding to repay the settlement amount in a phased manner by 31 March and is close to signing a definitive agreement, two people with direct knowledge of the development said.
Essel Group founder Subhash Chandra is poised to settle the ₹6,500 crore debt it owes JC Flowers Asset Reconstruction Co. (ARC) for close to ₹1,500 crore to regain ownership of the family’s stake in assets, including Dish TV and Zee Learn, as well as three properties, including a bungalow in central Delhi.
Chandra’s Essel Group reached an understanding to repay the settlement amount in a phased manner by 31 March and is close to signing a definitive agreement, two people with direct knowledge of the development said.