Debt

Debt financing

Indiabulls Housing Finance moves NCLT against Essel's Subhash Chandra

Economic Times Print Edition  

Indiabulls Housing Finance has moved the National Company Law Tribunal (NCLT) against media baron Subhash Chandra claiming he had personally guaranteed payment for loans given to companies that were co-borrowers with Essel Group firms. As these loans have turned non-performing, Indiabulls Housing Finance has sought initiation of personal insolvency proceedings against Subhash Chandra to recover the loans. The firm has also filed insolvency proceedings against Essel Home at NCLT.