Zee Group founder Subhash Chandra settles 91.2 percent of his debt

Zee Group founder Subhash Chandra has settled 91.2 percent of his debt with 43 lenders in 110 accounts, Business Standard reported on Wednesday. The remaining dues are “in the process of being paid”.

In an open letter on Tuesday, Chandra said that he was making all efforts to settle the remaining 8.8 percent of the debt. Chandra added that he had “no regrets” about parting with a substantial stake in the business and he was doing it to preserve his family’s honour.

Noting that he hoped to settle the remaining outstanding accounts before the end of the year, Chandra apologized to his brother Jawahar Goel whose company Dish TV India Ltd, he said, suffered because of him.

Read Newslaundry’s report on how Subhash Chandra’s zeal for diversification wrecked his Zee empire.