Subhash Chandra, the media mogul, is considering collaborations with investment professionals in Switzerland and is contemplating borrowing from family members to fund investments in start-ups. This announcement comes shortly after the National Company Law Tribunal (NCLT) approved a repayment plan that allows creditors to recoup only a fraction of the Rs 22,006.57 crore they are owed. Chandra’s move signals a strategic pivot towards potential growth avenues as he navigates financial challenges.
I am not talking about a person who has lost everything. “Today I’m talking in a very simple way. I have a small residential house, which I have given on rent, and I am running my expenses with that income. I have no regrets. I will earn again. I am a pioneer. I know how to do good and new things. As chairman of Essel Group, Subhash Chandra’s business empire stretches from media to infrastructure to amusement parks. “Right now, I have a plan to work with my friends in Switzerland who do investment work.
The last Rs 6.5 crore I have left with will have to pay according to the plan. In his video statement, the 75-year-old businessman talked about his next professional move — a job in Switzerland. I will give you the details in the next 1-2 weeks. Might also take a loan of Rs 2-4 crore from family and invest it in some of our start-ups that can move forward,” he said. Under the approved repayment plan, approximately Rs 6.5 crore will be available for distribution against admitted creditor claims of about Rs 22,006.57 crore. That amounts to a recovery of roughly 0.03 per cent of the admitted claims and a haircut of nearly 99.97 per cent for creditors.
I will continue to do so,” Subhash Chandra said in a video statement.
