HDFC Bank may appeal court dealing Chandra pay ₹6.5cr
Business
HDFC Bank isn't happy with the recent court-approved deal that lets Zee Group's Subhash Chandra pay back just ₹6.5 crore out of ₹22,006 crore in claims filed against him.
The case centers on personal guarantees Chandra gave for loans his companies took, and now HDFC is exploring an appeal.
Majority backs plan, HDFC alleges conflicts
The repayment plan got support from most creditors this week and aims to keep Chandra from going bankrupt, especially since his main asset is a mortgaged house.
But some lenders, including HDFC, argue it's unfair for them to take a 99.97% loss and claim that many of those who voted for the plan are too closely linked to Chandra.