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A new settlement proposal has emerged regarding the personal guarantee of Essel Group chairman Subhash Chandra concerning a loan from LIC Housing Finance. According to sources, four borrowing companies have offered to pay LIC Housing Finance 100% of the outstanding principal plus 10% interest.

This offer comes amid Subhash Chandra's objections to the wide media coverage on social networks and other platforms regarding the mass write-off of personal debts, which related to a claim of 22,006 crore rupees that received a 99.97% discount from the NCLT. Chandra insisted that the matter should not be presented as a mass write-off of personal debts. He emphasized that he personally did not borrow money from creditors but acted only as a personal guarantor for companies associated with the Essel Group.

This dispute relates to loans taken by companies for which Subhash Chandra served as a personal guarantor. Vasant Sagar Properties Limited and Pan India Infraprojects Private Limited collectively borrowed 500 crore rupees from LIC Housing Finance Limited. Additionally, Digital Subscriber Management and Consultancy Services Private Limited and Spirit Infrapower Project received loans totaling 480 crore rupees.

Sources indicate that these four companies submitted a package of settlement proposals to LIC Housing Finance. Under this proposal, they are prepared to repay 100% of the principal amount with an accrual of 10% interest. These same companies were those whose debts were secured by Subhash Chandra's personal guarantee. Subhash Chandra previously stated that the figure of 22,006 crore rupees reflects the claimed claim during the NCLT proceedings, not his personal outstanding debt. He clarified that a demand for 21,696 crore rupees was approved, while the total sum of claims from creditors opposing the settlement plan amounted to about 3,992 crore rupees. Of this amount, 620 crore rupees had already been settled, leaving approximately 3,372 crore rupees.

Subhash Chandra also reported that the borrowing companies had offered to pay about 1,113 crore rupees to several dissenting creditors, and negotiations with these creditors are ongoing. Currently, the new proposal presented to LIC Housing Finance involves the payment of 100% of the principal with 10% interest from all four companies. The future of the situation will depend on the progress of these settlement proposals and the outcomes of current negotiations with the objecting creditors.

According to sales data for September 2026, the total number of units sold across the entire segment reached 1,790,188. The annual growth rate for this segment reached 33.08 percent compared to September of last year, when 1,345,153 units were sold. Furthermore, the monthly growth was 4.41 percent relative to August, when 1,714,610 units were sold. September became the best month for this segment so far.

Analysis of the Indian automotive market shows that the share of gasoline vehicles remains the highest, accounting for 88.35 percent of total sales. The share of electric vehicles reached 11.58 percent, with an observed growth in the share of electric vehicles both month-over-month and year-over-year.

Honda Motorcycle and Scooter India led the two-wheeler sales in September, selling 468,789 units and capturing a market share of 26.19 percent. Hero MotoCorp was in second place, selling 434,280 two-wheelers, which secured it a 24.26 percent share.

TVS Motor Company took third place, with sales volume reaching 364,640 units in September 2026, increasing the company's market share to 20.37 percent. Bajaj Auto came in fourth place, selling 166,112 units, holding a 9.28 percent share.

Other significant market players include Royal Enfield, which sold 102,226 motorcycles with a 5.71 percent share, and Suzuki Motorcycle India, which sold 101,926 vehicles. Yamaha sold 64,292 units, while Ather Energy supplied 30,533 electric scooters.

Additionally, in the electric vehicle segment, sales were noted from Ola Electric (13,451 units), Greaves Electric (9,316 units), River Mobility (5,556 units), Bigass Auto (5,023 units), and Classic Legend (4,573 units). 3,778 units were also sold by Piaggio Vehicle and 3,069 units by Bounce Electric.

India has responded to Elon Musk's statements that his satellite internet services are being 'blocked' in the country.

The industrialist claimed that some oligarchs are obstructing access to the service to maintain their monopolistic control, but he did not name the individuals he accused.

The Bureau of Indian Press Information responded to Musk's publication by issuing a statement that the government has established a 'fair and non-discriminatory authorization system for all telecommunication services, including satellite communication services.'

In this message, while calling these claims 'unfounded and erroneous,' there was no direct response to Musk; instead, it addressed a post circulating on social media regarding the fairness of India's regulatory framework for satellite communications.

It was further clarified that each licensee is obliged to demonstrate compliance with security requirements, which aims to 'ensure the fulfillment of various security requirements provided by the services' for data protection. It was added that a security assessment is currently underway for all three licensees.

The Ministry of Communications also reported that after this process is completed, licensees will be able to apply for spectrum allocation. It was noted that all three organizations applying for a license 'are at approximately the same regulatory stage.'

Musk's Starlink is available in over 150 countries worldwide and recently received approval from UAE authorities.