Dr Subhash Chandra interview: Dr Subhash Chandra, the chairman of the Essel Group, in an unique interplay with Zee Business’ Managing Editor Anil Singhvi, mentioned the group will quickly develop into debt-free. The chairman mentioned that the goal is to service debt by promoting belongings, and until now, the corporate has repaid Rs 40,000 crore to the lenders. So far, “we have paid Rs 50,000 crore in interest as well,” Dr Chandra added. Further, he mentioned that the group has repaid the debt by promoting some extremely precious belongings and that he has mortgaged his residence too to repay the debt. Dr Chandra added that they’ve taken a pledge to repay everybody’s debt with humility.
Further, he knowledgeable Anil Singhvi that Dish TV is debt-free right this moment and the Zee Enterprises-Sony merger course of is anticipated to be accomplished quickly. The chairperson additional informed the market professional that as of late he’s mentoring startups. On the ups and downs of life, Dr Chandra mentioned, “A strong person never runs away from the problem but fights it.” He additional mentioned that unhealthy instances taught him lots.
When did the debt-repayment course of start?
The Chairman of Essel Group, which has accomplished 97 years, revealed within the interview that the group began repaying debt in January 2019. “It was our aim to repay all our debts by March 31, 2023; however, it couldn’t be executed as the assets couldn’t be sold due to some reasons,” Dr Chandra mentioned. However, he added that some belongings are more likely to be offered, after which the debt might be repaid.
Dr Subhash Chandra on lenders
When requested about some lenders who’re creating controversies round debt, Dr Subhash Chandra replied that lenders have supported Essel Group lots. In his phrases, “Lenders know that Essel Group has repaid the debt by selling valuable assets.” The chairman additional mentioned that from 1967 to 2019, Essel Group has by no means defaulted.
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