Zee founder Subhash Chandra settles 91.2% of debt with 43 lenders

The Essel group founder, Subhash Chandra has settled 91.2 per cent of his debt with 43 lenders, and the remaining dues are in the process of being paid.

“I am happy to report that we have come out of the financial stress situation by settling 91.2% of our total debt to 43 lenders in 110 accounts. About 88.3% of the amount has been paid, while the remaining 2.9% is in the process of being paid. We are making all the required efforts to settle the remaining 8.8% of our total debt. I have no regrets for parting with a substantial ownership in the business and specially in the ‘jewels of the crown’. This was done to keep the family’s honour,” Chandra said in an open letter today.