Zee shares fall 14% after NCLT approves Chandra repayment plan
In short
Zee Entertainment shares fell 14% on Monday after the NCLT approved a repayment plan tied to founder Subhash Chandra. The plan reportedly offers about Rs 6.5 crore against admitted creditor claims of Rs 22,006.57 crore, which means a 99.97% haircut.
This matters because it hit the stock price sharply. The reporting does not say what Zee or Chandra said next, or whether any appeal or further step is planned.
What the reporting says
Zee Entertainment shares crashed on Monday after the NCLT approved a repayment plan involving founder Subhash Chandra. The plan reportedly allows recovery of about Rs 6.5 crore against admitted creditor claims of Rs 22,006.57 crore, implying a 99.97% haircut. The immediate market reaction was a 14% fall in the stock, while the source does not state any further outcome or response.
Why it matters
Zee Entertainment shares dropped after the NCLT approved a repayment plan linked to founder Subhash Chandra. The reported figures show recovery of around Rs 6.5 crore against admitted creditor claims of Rs 22,006.57 crore, indicating a 99.97% haircut. The immediate effect was a 14% fall in the stock. The reporting does not state any further legal steps, company response, or timing beyond Monday.