HYDERABAD: In a fresh round of trouble for the beleaguered media group Deccan Chronicle Holdings Limited, the Hyderabad bench of National Company Law Tribunal (NCLT) today accepted a plea by the Canara Bank, seeking initiation of insolvency resolution process and has asked the bank to appoint an interim resolution professional (IRP).
Sources in the bank said that they are in talks with the big four accounting firms- Pricewaterhouse Coopers, Ernst & Young, Deloitte and KPMG to be appointed as an IRP. Further, the tribunal assigned July 11 as the hearing date for deciding the moratorium period.
Dishit Bhattacharjee, standing counsel for Canara Bank said, The tribunal admitted our application under Section 7 of the Insolvency and Bankru…
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