Indiabulls Housing Finance Ltd, now operating as Samaan Capital, has decided not to contest the National Company Law Tribunal's approval of a repayment plan for Zee group founder Subhash Chandra. The decision was announced on August 28, 2026, following the tribunal's earlier sanction of the plan related to a personal insolvency case triggered by a ₹170 crore loan to Vivek Infracon, which Chandra had personally guaranteed, according to livemint.com.
The personal insolvency proceedings against Subhash Chandra were initiated in 2022 when Indiabulls Housing Finance, as the financial creditor, sought recovery of the ₹170 crore loan extended to Vivek Infracon. The NCLT approved a repayment plan proposed by Chandra, which Samaan Capital has now accepted without raising any objections. This move effectively ends the legal contest over the repayment terms and allows the implementation of the plan to proceed, as reported by livemint.com.
This development is significant in the context of insolvency and debt resolution in India’s corporate sector, particularly involving high-profile business figures like Subhash Chandra. The case highlights the role of the NCLT in resolving complex financial disputes and the willingness of creditors to accept tribunal decisions to expedite recoveries. It also reflects on the challenges faced by promoters in managing personal guarantees linked to corporate loans, a common issue in India’s financial landscape, according to livemint.com.
The resolution of this case will be closely monitored by stakeholders in the Zee group and the broader financial community. The NCLT's approval and the creditor's acceptance mark a key milestone in the repayment process of the ₹170 crore loan guaranteed by Subhash Chandra, as detailed by livemint.com.