Moneycontrol
Nov 28, 2012 11:33 AM IST | Source: CNBC-TV18

Deccan Chronicle woes: Tata Cap, GE Cap may file petition

There could be more troubles for the Hyderabad-based Deccan Chronicle Holdings, which has 5 winding petitions against it in Andhra Pradesh High Court. Now, there are two more entities, which are likely to file petitions for receivables to the tune of Rs 200 crore.


There could be more troubles for the Hyderabad-based Deccan Chronicle Holdings, which has 5 winding petitions against it in Andhra Pradesh High Court. Now, there are two more entities, which are likely to file petitions for receivables to the tune of Rs 200 crore. CNBC-TV18's Appaji Reddem reports.


Also read: ICICI, Axis Bank withdraw from Deccan Chronicle debt recast


DCHL owes Tata Capital and GE Capital Rs 100 crore each. Sources say that these two companies are in talks with DCHL for the receivables and they are most likely to file winding up petitions in Andhra Pradesh High Court soon.

So, far the liabilities of Deccan Chronicle Holdings to different banks and financial institutions are estimated at Rs 5000 crore and a forensic audit is ordered. There are already five winding up petitions filed in Andhra Pradesh High Court. The companies which have filed petitions include IFCIL, ICICI Bank and Hong Kong based Adonies Group.

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