Essel Group chairman said on 3rd August that he had cleared more than 90% — precisely 91.2% — of his debt and would settle the balance before the end of the fiscal year. He also revealed that he would be starting a new venture in the digital video space “without getting into any conflicts with Zee Entertainment Enterprises”.
Chandra sold his holdings in the flagship company which he founded in 1992, in 2019. He landed in debts due to huge investments in infrastructure. The after-effect of the liquidity crisis triggered by the collapse of IL&FS worsened his position. He currently owns 4% in Zee Entertainment Enterprises which had a market value of Rs. 19,609 crore on 3rd August.