Essel Group looks to clear JC Flowers’ dues by June

Media baron Subhash Chandra-promoted Essel Group is aiming to settle outstanding debt owed to JC Flowers Asset Reconstruction by June, having already paid the first tranche, around ₹300 crore of the estimated ₹1,500 crore that he owes the company, industry sources aware of the development told ET.

Essel Group is in the process of paying the second tranche of the debt later this month. “As the payments are made, JC Flowers will start releasing assets, which include Dish TV, Zee Learn and some real estate assets,” one of the persons said on the condition of anonymity.