New Delhi, Aug. 30 -- Essel Group Chairman Subhash Chandra on Sunday responded to social media posts surrounding his personal insolvency matter, saying there has been a "wrong perception and understanding" of the issue. In a post on X, Chandra said he had been observing social media posts on the matter for the past three days, including posts carrying the hashtag #PaiseVapasKaro.

"Hence, I am giving a detailed account of the entire matter," Chandra said.

In a statement, Chandra said his own borrowing stood at Rs.0, while the total personal guarantees he had signed amounted to Rs.22,000 crore. Of this, he said Rs.4,800 crore in guarantees were signed at the time the borrowers borrowed the funds, while the remaining guarantees were signed...