From total how many banks Subhash Chandra’s company took loan:HDFC Bank, Canara Bank, IndusInd Bank also looking to get money back apart from LIC HF

Troubled businessman Subhash Chandra’s Essel Group and other companies had taken loans not just from LIC Housing Finance but also from other major banks in the country like the HDFC Bank, Canara Bank, Union Bank, etc. Zee Group founder Subhash Chandra had issued a detailed clarification on his personal insolvency case. He revealed that while he signed massive personal guarantees, the actual unpaid principal loan balance of the borrowing companies stands at only ₹998 crore. Background of the personal insolvency case The National Company Law Tribunal (NCLT) is currently running a personal insolvency trial against Subhash Chandra. This legal process was started by Indiabulls Housing Finance Ltd because of unpaid corporate loans. Under Indian business laws, a personal guarantee means an individual promises to pay back a loan if the company that borrowed the money fails to do so. Chandra had issued a statement to respond to the wave of negative social media posts. Users have shared posts with hashtags like “#PaiseVapasKaro” (Return the money). Chandra stated that there is a wrong perception and understanding of his financial matters. He clarified that his personal borrowing is ₹0. This means he did not take any of this money for his personal use. Instead, he signed personal guarantees worth ₹22,000 crore for various companies. Out of these, guarantees worth over ₹4,800 crore were signed when the companies first took the loans. The rest of the guarantees, worth ₹17,200 crore, were signed after those companies defaulted on their payments. Reconciling the actual loans and repayments The official statement made by the beldiwered entrepreneur lists ten major banks and financial companies that lent money to multiple borrowing companies under Chandra’s guarantees. The total loan amount released or disbursed to these borrowing companies at the start was ₹4,808 crore. Over time, these borrowing companies paid back a total of ₹3,803 crore. Going by Chandra’s claim, the borrowers have already returned nearly 79% of the original principal loan amount. The actual unpaid loan balance left with the lenders is only ₹998 crore. However, the total claims filed by these lenders against Chandra in the NCLT court are much higher, standing at ₹5,311 crore. This gap exists because lenders have added interest, penalties, and charges to the outstanding principal. Lender-wise breakdown of loans and payments To understand where the money went and how much is left, we must look at the individual accounts of the ten lenders: Indiabulls Housing Finance Ltd: They disbursed ₹726 crore. The borrowers paid back ₹771 crore, leaving an overpayment of ₹49 crore. Indiabulls claimed ₹429 crore from Chandra as personal guarantor. This entire claim has now been settled and paid after the personal insolvency proceedings began. Axis Bank Group: They disbursed ₹388 crore. The borrowers paid back ₹157 crore, leaving an outstanding balance of ₹231 crore. Axis Bank claimed ₹620 crore from Chandra, which has also been fully settled and paid, though some minor procedural payments are still in process. HDFC Group: Across four to five accounts, HDFC disbursed ₹1,025 crore. The borrowers paid back ₹1,275 crore, meaning they returned ₹250 crore more than they borrowed. HDFC has claimed ₹775 crore from Chandra, but the statement notes that these are claims without a valid personal guarantee. The outstanding claim today remains ₹775 crore. Canara Bank: They disbursed ₹315 crore. The borrowers paid back ₹202 crore, leaving an outstanding balance of ₹112 crore. Canara Bank has filed a claim of ₹348 crore. The statement notes this borrowing was secured against the assets of the borrower in the USA. The outstanding claim remains ₹348 crore. Edelweiss: They disbursed ₹300 crore. The borrowers paid back ₹232 crore, leaving an outstanding balance of ₹68 crore. Edelweiss claimed ₹565 crore from Chandra. The statement notes that more than ₹500 crore worth of security was available during the default, and the matter is pending in the Debt Recovery Tribunal (DRT). The outstanding claim is ₹565 crore. Franklin Templeton: They disbursed ₹425 crore. The borrowers paid back ₹235 crore, leaving an outstanding balance of ₹190 crore. They filed a claim of ₹729 crore. According to Chandra, the borrower offered to sell available security during the default, but the lender chose not to sell, hoping for higher gains. As share values crashed, the lender kept the security at its own risk. The outstanding claim stands at ₹729 crore. IndusInd Bank: They disbursed ₹500 crore. The borrowers paid back ₹493 crore, leaving a small outstanding balance of ₹7 crore. IndusInd Bank claimed ₹240 crore. The statement notes that the bank had adequate security but did not convert it to cash, keeping it at its own risk. The outstanding claim remains ₹240 crore. LIC Housing Finance: Across multiple accounts, they disbursed ₹980 crore. The borrowers paid back ₹416 crore, leaving an outstanding balance of ₹564 crore. They claimed ₹1,322 crore from Chandra. The bank has offered to settle, and some security is available. The outstanding claim is ₹1,322 crore. RBL Bank: They disbursed ₹65 crore and received ₹10 crore back, leaving a balance of ₹54 crore. They claimed ₹119 crore. Chandra stated that the bank was offered a payment plan similar to the larger lenders, but they refused. The outstanding claim stands at ₹119 crore. Union Bank: They disbursed ₹84 crore and received ₹12 crore back, leaving an outstanding balance of ₹71 crore. They filed a claim of ₹164 crore. The statement notes that security is available for this loan. The outstanding claim is ₹164 crore. The road to settlement: Out of the ₹5,311 crore in total claims, a sum of ₹1,049 crore has already been settled and paid (comprising ₹429 crore to Indiabulls and ₹620 crore to Axis Bank). This leaves a remaining claim balance of ₹4,262 crore. Chandra has claimed he has held discussions with all the borrowing companies. These companies have assured him that they will settle the remaining ₹4,262 crore. The final payments will be made once the outstanding accounts are reconciled and agreed upon between the borrowers and the lenders. Additionally, there are other substantial borrowings from foreign funds, domestic funds, and other corporate entities. The statement notes that most of these are either already settled or are currently being paid off by the borrowers, as they have adequate assets. Chandra expressed hope that lenders will actively engage with the borrowers to reconcile the accounts so that everyone gets paid and the social media campaign is resolved.