HDFC Bank to Challenge Over 99% Cut in Media Tycoon’s Repayment

India’s largest private lender says it will challenge a bankruptcy resolution tied to media tycoon Subhash Chandra after an insolvency court approved a more than 99% cut for creditors. The move suggests ongoing recovery risk and potential legal uncertainty over the enforceability of personal guarantees. While not system-wide, the dispute can affect lender credit expectations for the exposure and near-term sentiment around insolvency recoveries.