"The Vasant Sagar Loan Facility was granted inter alia on the basis of the Net Worth Certificate submitted by Subhash Chandra, issued by 28th March 2018 issued by DIM & Co, certifying that his networth was US$ 6,197.62 Million (approximately Rs. 59,113.21 Crores), as on 31st March 2017 Similarly. the Digital Loan Facility was granted inter alia on the basis of the Net Worth Certificate submitted by Subhash Chandra, issued by MPJ & Co.. Chartered Accountants on 06.07.2018, certifying that his networth was Rs. 40,562 Crores," it added. "Thereafter, defaults have occurred in the Vasant Sagar Loan Facility and Digital Loan Facility. In the course of the subsequent proceedings under the Insolvency & Bankruptcy Code, 2016 for the personal insolvency resolution of Subhash Chandra, he categorically denied having the Net Worth as stated in the Net Worth Certificates, which he had submitted to LICHFL to cause approval and disbursal of the loan detailed above," the complaint states. "In the course of the proceedings. he has stated that his net worth in 2024 is Rs. 31.79 crore and stated that, even in 2017-18. he did not have the net worth of more than Rs. 40.000 Crores," it noted. With over 18 years of experience in broadcast and print journalism, Bhavatosh Singh has been with Times Now since 2005. Primary areas of interest incl... View More