ICICI Securities has approached the National Company Law tribunal (NCLT) against the ailing media house Deccan Chronicle Holdings a few weeks after Canara Bank took the company to the tribunal initiating insolvency proceedings and seeking directives to interim resolution professional (IRP) to recover dues.
ICICI Securities, which originally claimed Rs 125 crore dues from Deccan Chronicle, has submitted to the Tribunal that the media house had indicated inability to repay the entire amount and offered Rs 45 crore of non-convertible debentures.
The Hyderabad-based firm, which owns the dailies Deccan Chronicle, Financial Chronicle, Asian Age and Andhra Bhoomi, offered a second charge over a corporate jet where the first charge was alrea…
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