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Informist, Thursday, Aug. 27, 2026

 

MUMBAI – LIC Housing Finance Ltd. said Thursday the order of the Delhi bench of the National Company Law Tribunal approving Zee Entertainment Enterprises Ltd. Chairperson Emeritus Subhash Chandra's repayment plan in personal insolvency proceedings does not affect its security interests or recovery rights against secured assets.

 

The company made the clarification in an exchange filing following media reports that the housing financier had an admitted claim of INR 13.22 billion in Chandra's personal insolvency proceedings, against which the approved repayment plan provides for only INR 3.81 million.

 

LIC Housing said it had sanctioned financial facilities under two loan accounts for which Chandra is the personal guarantor. "Accordingly, the company continues to hold and retain all its rights, security interests, enforcement remedies and recovery avenues over the said secured assets in accordance with applicable provisions of law," it said.

 

The company clarified that the tribunal's order relates only to the insolvency resolution process against Chandra in his capacity as a personal guarantor under the Insolvency and Bankruptcy Code, 2016, and does not adjudicate, discharge, dilute, or otherwise affect the corporate liabilities of the principal borrower entities. The company said it issued the clarification to place the factual position on record and provide context to the media reports.

 

In 2022, the tribunal had admitted Sammaan Capital Ltd.'s plea to start insolvency proceedings against Chandra. The non-banking financial company had moved the tribunal against Chandra after a default on a loan of INR 1.70 billion given to Vivek Infracon Pvt. Ltd. Chandra had provided personal guarantees for the loan.

 

For the June quarter, LIC Housing Finance had reported a net profit of INR 14.88 billion on revenues of INR 14.93 billion. Thursday, its shares ended at INR 535.50 apiece on the National Stock Exchange, up 2.1% from Wednesday.  End

 

Reported by Meera Nair

Edited by Rajeev Pai

 

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