Subhash Chandra Reveals Financial Struggles and Future Plans
Zee founder Subhash Chandra shares his journey of selling assets and living off rental income as he navigates financial challenges.
Chandra sold family assets to repay loans.
He lives on rental income from a small property.
Lenders plan to challenge his repayment plan.
Subhash Chandra, the founder of Zee and Essel Group, has disclosed that he has sold family assets, including his house, to repay debts. Currently, he has ₹6.5 crore left, which he intends to use according to the National Company Law Tribunal's (NCLT) approved repayment plan. Chandra mentioned that he is now relying on rental income from a small residential property to cover his living expenses.
Despite the financial turmoil, Chandra remains optimistic about rebuilding his wealth. He plans to invest in startups and other ventures, potentially borrowing ₹2-4 crore from family for these investments. However, his repayment plan has faced opposition from lenders like Canara Bank and Union Bank of India, who intend to challenge the NCLT's approval, complicating his financial recovery efforts.
