Essel Group company Shirpur Gold admitted for insolvency

To secure a ₹65-crore loan, SGRL had given an undertaking to Industrial Finance Corporation of India (IFCI) that it would maintain its own excess shares besides those of Zee Media, Zee Entertainment (both promoted by Essel Group) and Dish TV India (which is under Chandra's younger brother) to the extent of ₹32.50 crore. The outstanding dues include a principal amount of ₹65 crore along with accumulated interest of ₹27 crore up to October 14, 2021.