Mumbai: Essel Group chairman Subhash Chandra is reportedly in talks with JC Flowers Asset Reconstruction Co. (ARC) to buy back his family's shares in Dish TV India.
According to media reports, Chandra has also put forth a proposal to buy other assets, which includes shares in Zee Learn and a bungalow in central Delhi. The Essel Group Chairman has reportedly proposed to pay JC Flowers Rs 1500 crore for these assets.
Among the things Chandra has moved to regain are shares of Zee Learn and three properties including a Rs 2.8 crore bungalow in central Delhi. It is, however, unclear how Chandra will raise Rs 1,500 crore given that he still has to pay many creditors of the Essel Group.