‘Two systems’: Rahul attacks Modi government over NCLT settlement plan for Subhash Chandra
Congress leader Rahul Gandhi has criticized the Modi government following an NCLT decision allowing businessman Subhash Chandra to settle massive debts for a fraction of the original amount. The opposition claims this highlights a two-tiered system that favors billionaires over common citizens.
Why it matters
The incident raises significant questions about the fairness of the Insolvency and Bankruptcy Code and the political accountability of financial regulatory bodies in India.
Congress leader Rahul Gandhi on Thursday (August 27, 2026) accused the Narendra Modi government of creating “two systems” in the country, one for a handful of billionaires and another for everyone else, after the National Company Law Tribunal (NCLT) approved a resolution plan allowing businessman Subhash Chandra to settle ₹22,006 crore dues for ₹6.5 crore.
In a post on X, Mr. Gandhi quipped that NCLT stood for “Neta-Company Loot Tribunal”. He said, “If a farmer doesn’t pay 50 thousand, his land gets auctioned off. If a salaried person misses even one EMI, bank goons show up at the house. Poor students can’t even get loans for education.”
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