Media maverick and India’s home-grown moghul Subhash Chandra is difficult to write off. And, true to his style, he’s poised to stage a media comeback by regaining control of the country’s first private sector DTH service, Dish TV, along with few other assets.

Mint newspaper yesterday reported that Essel Group (that originally founded and owned Zee Entertainment till sometime back) founder Subhash Chandra is poised to settle the Rs. 6,500 crore debt it owes JC Flowers Asset Reconstruction Co. (ARC) to regain ownership of the family’s stake in assets, including Dish TV and Zee Learn, as well as three properties, including a bungalow in central Delhi.

“Chandra’s Essel Group reached an understanding to repay the settlement amount in a phased manner by 31 March and is close to signing a definitive agreement, two people with direct knowledge of the development said,” the Mint report stated.

Mint had first broken the story on July 21 that Chandra had initiated talks with JC Flowers to buy back his family’s stake in Dish TV for close to Rs. 1,500 crore.

A JC Flowers spokesperson declined to comment on Mint’s query, while queries sent to Essel Group also did not elicit any response, the report clarified.