Subhash Chandra hoped that the lenders would discuss the matter with the borrowers, reconcile the outstanding accounts, and get paid by the borrowers.
N Chandrasekaran's exit marks a major shift for TCS, leaving its leadership to navigate AI disruption without the group chairman's deep expertise.
'Resolution plan with this much haircut is totally unviable.'
A special five-member NCLT bench has issued notices to all parties in Subhash Chandra's personal insolvency case and directed the Essel Group Chairman not to alienate his properties, either directly or indirectly, following a split verdict on a repayment plan.
Zee founder Subhash Chandra has shifted his public statements from allegations against Mukesh Ambani to focusing on settling outstanding Essel Group debt, with borrowers reportedly agreeing to repay obligations.
Chandra's tenure also saw a big jump in Tata Sons' other income, such as brand fee from group companies, treasury gains, and other non-recurring income.
Essel Group Chairman Subhash Chandra has challenged the National Company Law Tribunal's (NCLT) decision to form a five-member bench to hear his personal insolvency case, arguing that the tribunal lacks the power to constitute such a bench. This comes after a split verdict and a subsequent stay on an order allowing him to settle claims.
Sources clarify that the NCLT's approval of a repayment plan for Essel Group founder Subhash Chandra does not signify a 99.97 per cent write-off of Rs 22,000 crore in bank loans, as the figure represents claims against him as a personal guarantor, not debt personally borrowed.
Essel Group founder Subhash Chandra has called for an independent audit to examine the group's borrowings, defaults, and repayments, stating that approximately 43,000 crore of its 45,000 crore total debt has been repaid.
Media baron Subhash Chandra has clarified that the total claim against him in personal insolvency proceedings is Rs 3,992 crore, not Rs 22,000 crore as claimed by dissenting creditors, asserting he was only a personal guarantor and not the borrower.
While the latest trigger for him stepping down could be the uncertainty around his renewal as a director at the AGM, which is otherwise a routine matter, Chandra may have been contemplating quitting for some time now because of the overall turbulence with the principal shareholder on the leadership issue.
BJP MLA Sumitro Chatterjee, a descendant of Bankim Chandra Chattopadhyay, has demanded an unconditional apology from Congress Parliamentary Party chairperson Sonia Gandhi. This demand follows an alleged incident at the AICC headquarters on Independence Day, where Chatterjee claims there were attempts to prevent the full singing of "Vande Mataram," which he described as a "shameless repetition of a historical mistake."
The National Company Law Tribunal (NCLT) has approved media baron Subhash Chandra's personal insolvency resolution plan, which proposes to pay Rs 6.5 crore against admitted creditor claims of approximately Rs 22,006.57 crore, despite allegations from dissenting lenders that five family-linked entities controlled 61.78 per cent of the voting share.
Just in case the AGM, scheduled At the AGM, if it is held, a shareholders' vote on Chandra's renewal as a director on the Tata Sons board is unlikely but not ruled out.
The National Company Law Tribunal (NCLT) has approved a repayment plan for media baron Subhash Chandra, allowing him to settle admitted creditor claims of approximately Rs 22,006.57 crore by paying just Rs 6.5 crore, resulting in a nearly 99.97 per cent haircut for lenders.
N Chandrasekaran, chairman of Tata Sons, announced he would not seek reappointment when his term ends in February 2027, following a series of departures by senior figures closely associated with former chairman Ratan Tata, including Vijay Singh and Mehli Mistry, amid a deepening power struggle and governance dispute within the Tata Group.
Tata Steel more than doubled its Indian capacity through acquisitions and expansion, strengthening cash generation as it pursued a costly restructuring of its European operations.
The Securities and Exchange Board of India (Sebi) has prohibited Zee Entertainment Enterprises Ltd (ZEEL) from the securities market for two months and its Chairman Emeritus Subhash Chandra and MD & CEO Punit Goenka for one year, imposing a total penalty of Rs 1.48 crore, for the unauthorised pledge of ZEEL's Hyderabad land to secure loans for promoter-linked Essel Group entities.
N Chandrasekaran not only faces muted financial performance from the group's listed companies, but also mounting losses at Tata Sons' unlisted subsidiaries, many of which have been set up by him in the last decade.
Air India Group has accumulated losses of about Rs 47,821 crore since its takeover, leaving its prolonged transformation among the biggest unfinished projects of N Chandrasekaran's tenure.
The 21st National Youth Athletics Championships in Ludhiana concluded with several new meet and national records being set. Himanshu Kumar and Krishan Chandra broke records in high jump and javelin throw, respectively, while Haryana led the medal tally.
The much-awaited board meeting of Tata Sons did not discuss listing of the holding company or a third term for Chairman N Chandrasekaran.
From ancient gurus to pioneering educationists and social reformers, India's history is peopled by remarkable teachers who saw learning as a force for change.
The Uttar Pradesh government has initiated the rehabilitation of 21 families residing within the historic Saundhan Fort in Sambhal. Each family has been allotted a 100-square-meter plot, with special provisions for widows under the Chief Minister's Housing Scheme, as part of efforts to conserve the ASI-protected Mughal-era monument and promote tourism.
A seminar in New Delhi commemorated Acharya Prafulla Chandra Ray's birth anniversary, focusing on his significant contributions to pharmaceutical sciences and his vision for indigenous research and self-reliance. Organised by DPSRU and VIBHA, the event highlighted Ray's pioneering efforts in "Swadeshi science" and his role in establishing India's pharmaceutical industry.
The Supreme Court has waived the remaining life sentence of 105-year-old murder convict Rasik Chandra Mondal, allowing him to live as a free man. The decision was made considering his advanced age and health issues, making his interim bail absolute.
General Dhiraj Seth, Chief of the Army Staff, who is on an official visit to Nepal, was conferred the honorary rank of General of the Nepali Army by Nepalese President Ram Chandra Paudel at an investiture ceremony in Kathmandu on Monday, August 17.
Tata Motors Passenger Vehicles Ltd (TMPV) has launched its new brand identity, TATA.CARS, aiming to appeal to a younger demographic with a focus on smarter, greener, and more connected mobility experiences.
The Sambhal district administration has issued notices to owners of 36 structures near the Shahi Jama Masjid for alleged violations of building regulations and construction without approved plans. This action is part of the ongoing enforcement under the Sambhal Mahayojana 2031, with owners given seven days to respond.
Immortal has a seductive premise and good performances, but this vampire tale could have used a lot more bite.
Mahatma Gandhi and Jawaharlal Nehru to Rani Lakshmibai and Subhas Chandra Bose, their journeys began in remarkably different corners of our great homeland.
N Chandrasekaran will step down as chairman of Tata Sons in February 2027, concluding a decade at the helm, following a prolonged standoff over his reappointment with Tata Trusts Chairman Noel Tata.
Netaji Subhas Chandra Bose's daughter, Anita B Pfaff, has approached the Supreme Court seeking directions for the return of her father's "ashes" from Tokyo's Renkoji temple. The apex court has issued a notice to the Centre, seeking its response on the plea. This follows a previous plea by Netaji's grand-nephew which was withdrawn after the court indicated that Bose's heir should be the one to petition.
The West Bengal government has revoked the Banga Bibhushan award from Rajya Sabha MP Ananta Maharaj following his controversial remarks describing Netaji Subhas Chandra Bose as a 'war criminal' and questioning the Azad Hind Fauj's role in India's freedom struggle.
The Supreme Court has overturned a 2017 National Green Tribunal (NGT) order that held Sri Sri Ravi Shankar's Art of Living Foundation responsible for environmental damage to the Yamuna floodplains. The court directed the Delhi Development Authority (DDA) to refund the Rs 5 crore environmental compensation deposited by the foundation and continue the floodplains' rehabilitation work.
'... that work is done. The task is to reallocate what has been built, with the courage of a founder and the discipline of an owner.'
AIMIM president Asaduddin Owaisi has urged people to support and strengthen the party for the 2027 Uttar Pradesh assembly elections, while also criticising the BJP government on issues like the Uniform Civil Code (UCC) and the Vande Mataram row.
With DC, Arun Matheswaran gives the tale of Devdas a stylish, blood-soaked treatment where Wamiqa Gabbi and Anirudh Ravichander steal the show.
Minister of State for Telecom Chandra Sekhar Pemmasani urged BRICS nations to collaborate on building institutional capacity and advocating for fair standards in international telecom and ICT bodies. He highlighted India's willingness to share its modular, open-source digital public infrastructure frameworks like Aadhaar and DigiLocker, emphasising their role in sustainable development and economic growth across the Global South.
Indian passenger vehicle manufacturers are significantly increasing production and stocking dealerships in anticipation of strong festival season demand, with new launches planned and supply bottlenecks being addressed. However, the industry faces potential moderation in growth during the second half of FY27 due to a high base from last year's post-GST surge, commodity inflation, and elevated inventory levels.
