--- title: "Kaushal Parsekar Comments on NCLT Verdict in Subhash Chandra Personal Guarantee Case" date: 2026-09-01 author: "King Stubb & Kasiva" url: https://ksandk.com/news/kaushal-parsekar-nclt-subhash-chandra-personal-guarantee/ --- # Kaushal Parsekar Comments on NCLT Verdict in Subhash Chandra Personal Guarantee Case Posted On - 1 September, 2026 • By - King Stubb & Kasiva ![Kaushal Parsekar of King Stubb & Kasiva on the NCLT verdict in the Subhash Chandra personal guarantee case](https://ksandk.com/wp-content/uploads/kaushal-parsekar-personal-guarantee-nclt-businessline.png) Recent proceedings concerning the personal guarantee of Zee Group promoter Subhash Chandra have raised important questions around the approach lenders may take towards personal guarantees and insolvency resolution going forward. ![Kaushal Parsekar of King Stubb & Kasiva on the NCLT verdict in the Subhash Chandra personal guarantee case](https://ksandk.com/wp-content/uploads/kaushal-parsekar-personal-guarantee-nclt-businessline.png) Commenting on the matter in BusinessLine, Kaushal Parsekar highlighted that the legal position remains open to further scrutiny, particularly given the opposition to the settlement by HDFC Bank and the possibility of an appeal. Kaushal noted that HDFC Bank’s opposition to the settlement and its consideration of an appeal indicate that the issue is far from settled. He further observed that the size of the haircut, by itself, should not be the determining factor in assessing the validity of the resolution. According to Kaushal, any appellate court examining the matter would be expected to consider the specific facts of the case, the applicable statutory framework, the conduct of the creditors and guarantor, and whether the insolvency process has been correctly applied. His comments highlight an important distinction in evaluating insolvency resolutions involving personal guarantors: the magnitude of the recovery or haircut cannot be assessed in isolation. The validity of a resolution would ultimately depend on the circumstances of the case and compliance with the statutory framework governing insolvency proceedings. Read the full article in [BusinessLine](https://www.thehindubusinessline.com/companies/lenders-to-turn-cautious-on-personal-guarantee-after-nclt-verdict-in-chandras-case/article71400594.ece). *Last Updated on 1 September, 2026* Get King Stubb & Kasiva’s legal updates in your Google feed[![Add King Stubb & Kasiva as a preferred source on Google](https://ksandk.com/wp-content/uploads/google_preferred_source_badge_light_en@2x.png)](https://www.google.com/preferences/source?q=https://ksandk.com/) --- ## Office Locations - [New Delhi](https://ksandk.com/locations/top-corporate-law-firm-in-delhi/) (HQ): +91-11-41318190 | info@ksandk.com - [Mumbai](https://ksandk.com/locations/top-corporate-law-firm-in-mumbai/): 3 offices (Nariman Point, Lower Parel, Andheri) | mumbai@ksandk.com - [Bangalore](https://ksandk.com/locations/top-corporate-law-firm-in-bangalore/): bangalore@ksandk.com - [Chennai](https://ksandk.com/locations/chennai/): chennai@ksandk.com - [Hyderabad](https://ksandk.com/locations/hyderabad/): hyderabad@ksandk.com - [Pune](https://ksandk.com/locations/pune/): pune@ksandk.com - [Kochi](https://ksandk.com/locations/kochi/): kochi@ksandk.com ## Contact - [Contact Page](https://ksandk.com/contact-us/) - General: info@ksandk.com | +91-11-41318190 - WhatsApp: +91-7428567444 - [Privacy Statement](https://ksandk.com/privacy-statement/) - [Terms of Use](https://ksandk.com/terms-of-use/)