KT Rama Rao Questions NCLT Approval of Subhash Chandra Debt Settlement

Bharat Rashtra Samithi (BRS) working president KT Rama Rao raised questions in Hyderabad regarding the reported approval granted by the National Company Law Tribunal (NCLT) allowing Subhash Chandra to resolve massive outstanding liabilities through a fraction of the total sum.

The reported arrangement involves a Rs 6.5-crore payout by Subhash Chandra to settle outstanding dues amounting to Rs 22,006 crore, representing a waiver of nearly 99.97 per cent. Questioning the fairness of the tribunal's reported decision, Rama Rao sought clear answers and accountability from the National Democratic Alliance (NDA) government over the matter.

Reacting to a media report outlining the development, the BRS leader drew a sharp contrast between the leniency shown to prominent corporate figures and the strict treatment meted out to everyday citizens facing financial distress.

Rama Rao noted that ordinary borrowers across the country—including farmers, small business owners, and salaried individuals paying regular equated monthly instalments (EMIs)—face aggressive pursuit by lending institutions whenever they encounter financial hardships. He highlighted that these regular borrowers are routinely pursued and labelled as defaulters or have their accounts classified as Non-Performing Assets (NPAs) even under challenging economic conditions.

“Any common man… will be taken to task,” Rama Rao said, pointing out the vast disparity between the strict recovery mechanisms enforced against ordinary people and the near-total financial waivers extended to the rich and mighty.