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Reliance Group rejects Subhash Chandra’s allegations against its media entities
Group calls the remarks baseless and says its media brands have never targeted anyone
MUMBAI: The Reliance Group has rejected allegations made by Essel Group chairman Subhash Chandra over the coverage of his debt and recent National Company Law Tribunal (NCLT) proceedings, calling his remarks “baseless”.
Chandra had accused the Reliance Group and its media entities of spreading what he described as a misleading narrative around his debt and the recent insolvency proceedings.
In a statement, the Reliance Group said it strongly denied the allegations and insinuations against its media businesses.
“The Reliance Group has noted with dismay the baseless remarks by Essel Group chairman Shri Subhash Chandra,” the group said.
It added that its media brands had never been used to attack anyone and would not be used for such a purpose in the future.
The statement comes amid renewed attention around Chandra’s personal insolvency proceedings. The NCLT has approved a resolution plan concerning admitted creditor claims of around Rs 22,006 crore, with a proposed recovery of roughly Rs 6.5 crore. The case has drawn objections from some lenders, who are considering challenges to the tribunal’s decision.
Chandra has disputed the way the debt figures and the NCLT proceedings have been portrayed, arguing that the reported figures do not accurately reflect the nature of his liabilities.
The Reliance Group, meanwhile, sought to keep its response focused on the media allegations rather than the underlying insolvency dispute.
“We hold Shri Subhash Chandra in high regard as a businessman and entrepreneur. We wish him well,” the Reliance spokesperson said.
The exchange adds another layer to the debate around the coverage of Chandra’s insolvency case, with both sides now publicly stating their positions on how the developments have been presented.
