Several facts being circulated are simply wrong: Harsh Goenka defends Subhash Chandra
Goenka urged people to consider Chandra’s version of events before drawing conclusions
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Published: Aug 29, 2026 7:35 AM | 2 min read
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- RPG Enterprises Chairman Harsh Goenka has publicly supported Essel Group Chairman Subhash Chandra amid controversy regarding Chandra's financial issues.
- Goenka criticized reports claiming Chandra received a 99% haircut from banks, stating that the Rs 22,000 crore debt figure is being misinterpreted.
- He emphasized the importance of considering Chandra's perspective, suggesting that the narrative surrounding the financial troubles is one-sided.
- Chandra has contested reports indicating that his debt was settled for Rs 6.5 crore through the National Company Law Tribunal (NCLT), asserting that the information is misleading.
RPG Enterprises Chairman Harsh Goenka has come out in support of Essel Group Chairman Subhash Chandra amid the ongoing controversy over the group’s financial troubles. Goenka said several facts being circulated about Chandra are “simply wrong” and that his perspective on the matter should also be taken into account.
The comments come amid reports concerning Chandra’s debt and proceedings before the National Company Law Tribunal (NCLT).
In a post on X (formerly Twitter), Goenka questioned reports suggesting that Chandra had secured a more than 99% haircut from banks. He maintained that the Rs 22,000 crore figure was being misinterpreted and said there were two sides to the story.
“With all the headlines screaming that Subhash Chandra got a 99%+ haircut from banks, it is worth listening to his side of the story too. The Rs 22,000 crore figure is being widely misunderstood and several facts being circulated are simply wrong. There are always two sides to a story. Do listen before you judge,” wrote Goenka.
With all the headlines screaming that Subhash Chandra got a 99%+ haircut from banks, it is worth listening to his side of the story too. The ₹22,000 crore figure is being widely misunderstood and several facts being circulated are simply wrong. There are always two sides to a… pic.twitter.com/wJTClahlvu
— Harsh Goenka (@hvgoenka) August 28, 2026
Goenka’s comments come amid Chandra’s pushback against reports concerning his financial liabilities and the NCLT proceedings. Chandra has alleged that reports wrongly suggested that his debt of around Rs 22,000 crore was settled through the NCLT for Rs 6.5 crore.
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