Indiabulls Housing Finance: A two-member Delhi bench of the NCLT directed initiation of personal insolvency proceedings against Zee Entertainment Enterprises Ltd (ZEEL) Chairman Emeritus Chandra, who was a guarantor for a loan given to Essel group firm Vivek Infracon Ltd.
Indiabulls Housing Finance Ltd (IHFL) had moved NCLT after Vivek Infracon had in 2022 defaulted a payment of around Rs 170 crore. Vivek Infracon is a part of Essel Group promoted by Chandra.