InvestorQ : Why are creditors objecting to the non-compete fee to Chandra of Zee?
NISHA Nayak made post

Why are creditors objecting to the non-compete fee to Chandra of Zee?

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Priyanka N answered.
4 months ago
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It is simple, Financial creditors of Essel group want Subhash Chandra to settle their dues with Rs.1,100 crore non-compete fee from Sony Group as part of the merger deal. Creditors may oppose the merger deal if Chandra does not agree to pay up. Loans by IndusInd Bank, Axis and Yes Bank have Chandra’s personal guarantees.

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