Subhash Chandra<\/a> has said that he plans to work with investment professionals in Switzerland and may even borrow money from his family to invest in start-ups, days after the National Company Law Tribunal (NCLT) approved a repayment plan under which creditors will receive only a fraction of the Rs 22,006.57 crore they had claimed from him.<\/p>\n“Today I’m talking in a very simple way. I am not talking about a person who has lost everything. The last Rs 6.5 crore I have left with will have to pay according to the plan. 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. I will continue to do so,” Subhash Chandra said in a video statement.\u00a0<\/p>\n
As chairman of Essel Group, Subhash Chandra’s business empire stretches from media to infrastructure to amusement parks. In his video statement, the 75-year-old businessman talked about his next professional move — a job in Switzerland.\u00a0<\/p>\n
“Right now, I have a plan to work with my friends in Switzerland who do investment work. I will give you the details in the next 1-2 weeks. \u00a0Might 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.<\/p>\n
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.<\/p>\n
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.<\/p>\n","protected":false},"excerpt":{"rendered":"New Delhi: Media baron Subhash Chandra has said that he plans to work with investment professionals in Switzerland…\n","protected":false},"author":2,"featured_media":122078,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[4],"tags":[59495,59496,59497,17],"class_list":["post-122077","post","type-post","status-publish","format-standard","has-post-thumbnail","category-switzerland","tag-subhash-chandra","tag-subhash-chandra-debt","tag-subhash-chandra-essel-group","tag-switzerland"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/117174723098118345","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/122077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=122077"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/122077\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/122078"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=122077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=122077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=122077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}