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SumanSpeaks Capital Markets & Geopolitical Intelligence  ·  Estd 2006   Insolvency Law · Corporate Accountability When the Law Works Exactly as Designed — And Still Feels Wrong ₹22,006 crore in personal guarantees. Settled for ₹6.5 crore. Approved 80.81% to a minority that included two public sector banks — with the tribunal's own bench divided before a tie-breaking member stepped in. Subhash Chandra (Goenka), founder of the Essel Group and promoter emeritus of Zee, has settled a personal guarantee liability of ₹22,006 crore for ₹6.5 crore. The National Company Law Tribunal approved the plan this week. The case began small. In 2022, Indiabulls Housing Finance — now Sammaan Capital — moved against Chandra over a personal guarantee on a ₹170 crore loan to Vivek Infracon. By the time the insolvency plea was admitted in 2024, admitted c...
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Don't Panic: Reforms coming: the discredited FM, Pranab Mukherjee
Finance minister Pranab Mukherjee said there was "no need for panic" after rating agency Standard & Poor's downgraded the country's outlook from stable to negative on Wednesday.
India is likely to pass some financial reforms in the current session of Parliament, which started on Monday, he added.
"There is no need for panic," Mukherjee told reporters. "The situation may be difficult, but we will be surely able to overcome (it)."

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