HYDERABAD: In a move that clears the decks for the corporate insolvency resolution process to move forward in the case of debt-ridden Deccan Chronicle Holdings Ltd (DCHL), the Hyderabad bench of the National Company Law Tribunal (NCLT) on Thursday dismissed two petitions filed by Kolkata-based SREI Infrastructure Finance Ltd seeking to be on the committee of creditors.
With this, the Insolvency Resolution Professional (IRP) appointed to oversee the insolvency proceedings at DCHL can now go ahead with the creditors meet.
SREI, which lent money to DCHL and converted the loan into equity for a 24% stake in the beleaguered company, wanted to be included in the committee of creditors and also be treated as a party to the ongoing i…
Read the full article at: https://timesofindia.indiatimes.com/city/hyderabad/dchl-row-nclt-junks-kolkata-infra-company-plea/articleshow/61680731.cms