Chairman of the Essel Group Subhash Chandra is reportedly in talks with JC Flowers Asset Reconstruction Co. (ARC) to buy back his family's shares in Dish TV India.

According to a news report, Chandra has also put forth a proposal to buy other assets, which includes shares in Zee Learn and a bungalow in central Delhi. The Essel Group Chairman has reportedly proposed to pay JC Flowers Rs 1500 crore for these assets.

The news report said that the matter is currently being evaluated by JC Flowers ARC. Sources privy to the matter told the media company that it is not clear how Chandra will raise the Rs 1,500 crore since there are many creditors whose dues have not been cleared by the Essel Group and they may raise objections.

The Goenka family owns 4.04% of Dish TV. If the transaction is completed, the family’s share may rise to 28.2%, said the report.