Mumbai, Aug. 31 -- The stock is down 12.40% in four sessions. The stock came under pressure after reports said three lenders plan to challenge the approval of Essel Group founder Subhash Chandra's repayment plan.

According to reports, Canara Bank, Union Bank of India and LIC Housing Finance will approach the National Company Law Appellate Tribunal (NCLAT) against the National Company Law Tribunal's (NCLT) order approving the plan.

The NCLT approved the repayment plan on 25 August 2026 despite objections from several financial creditors. Under the plan, Rs 6.25 crore will be paid to creditors, while another Rs 25 lakh has been earmarked for insolvency-process costs.

The plan was approved against admitted claims of about Rs 22,006.57 cro...