Lenders likely to restructure DCHL

Highlights

Kolkata-based Srei Infrastructure Finance Limited, which has 24 per cent stake in the city-based Deccan Chronicle Holdings Limited (DCHL), is working with other lenders of the troubled media company to restructure it.

Hyderabad: Kolkata-based Srei Infrastructure Finance Limited, which has 24 per cent stake in the city-based Deccan Chronicle Holdings Limited (DCHL), is working with other lenders of the troubled media company to restructure it.

DCHL management allotted 66 million shares to Srei Infrastructure Finance in January this year after the latter initiated legal proceedings against it to recover Rs 220 crore loan. As result, Srei has emerged as largest shareholder in the media company. "We are working with other lenders of the media company to go for the restructuring of the company.

We would approach the court to seek the requisite approvals," said Sunil Kanoria, Vice Chairman of Srei Infrastructure Finance. Kanoria recently assumed charge as Assocham president. The restructuring would be aimed at strengthening the current management of the company, he added.

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