Zee Group Founder Subhash Chandra
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Zee Group Founder Subhash Chandra took to Instagram Live on Monday morning claiming that the personal insolvency matter is resolved to his mind and with Chandra himself owing zero money as a personal guarantor.Drawing a difference between borrowers and guarantors, Chandra said he has not borrowed any money himself.“I can only pay what I have. I’m paying ₹6.5 crore but the borrowing entities will pay the entire actual amounts owed. The borrowers only acknowledge according to their books of accounts about ₹990 crore. The borrowers and the lenders have claimed ₹5,300 crore in total those who are objecting in the NCLT proceedings,” said Chandra, adding that lenders should sit and talk to the borrowers, the latter of which allegedly told the media baron that lenders like HDFC never responded to their calls. Chandra also claimed that he can only give what he has and does not have the total sum to pay off the money.Viewers of the 18-minute live were not entirely convinced by Chandra’s assurances, with some questioning how huge claims of ₹22,000 crore can be reduced to mere ₹6.5 crore. The allowance by the National Company Law Tribunal has garnered considerable flak from the general public as well as affected banks. Experts have also talked about the order’s impact on future personal guarantee cases as lenders may become cautious while pursuing similar cases. Others question why creditors agreed to the ₹6.5 crore repayment plan in the first place, which was the principle argument of the NCLT order.Published on August 31, 2026
