Capital markets regulator Sebi has sent a notice to Deccan Chronicle Holding's promoters and asked them to pay Rs 4.29 crore in a matter related to misrepresentation of financial statements of the company from FY 2008-09 to 2011-12. The regulator directed T Venkattram Reddy, T Vinayak Ravi Reddy and P K Iyer to pay Rs 4.29 crore, which includes interest and recovery costs, within 15 days, Sebi said in a demand notice issued on Friday. In the event of non-payment, it will recover the amount by attaching and selling the movable and immovable properties of the Deccan Chronicle Holdings Ltd (DCHL) promoters.
Bombay High Court-appointed arbitrator retired Justice CK Thakkar delivered the verdict on July 17 and told BCCI to pay Rs 4,800 crore as compensation by September 2020.
The IPL Governing Council had terminated Deccan Chargers in 2012, a move that the franchise had challenged.
The Deccan Chronicle Holdings Limited (DCHL) on Thursday issued a tender notice inviting bids from prospective buyers for its IPL franchisee Deccan Chargers, which is currently in a financial mess.
Deccan Chronicle had taken a Rs 170-crore loan from Future Capital and Rs 100-crore loan from Tata Capital.
The Bombay high court has granted Deccan Chronicle Holdings Ltd (DCHL) three more days to furnish an irrevocable and unconditional bank guarantee of Rs 100 crore to the Board of Control for Cricket in India for its Indian Premier League franchise Deccan Chargers.
Deccan Chronicle's ventures into niche aviation and IPL seem to be cause of its troubles Could the strange twists and turns in the relationship between the Deccan Chronicle and Kishore Biyani-controlled Future Capital be simply coincidental?
DCHL owes the bank about Rs 200 crore (Rs 2 billion).
The owners of the cash-strapped Deccan Chargers sold the Indian Premier League franchise to a real estate company for an undisclosed sum. Deccan Chronicle Holdings, which paid $107 million for the franchise in 2008, informed the stock exchanges on Friday of their decision to sell the team to Kamla Landmarc, a Mumbai-based real estate company.
The Board Of Control For Cricket In India working committee decided to take a final call on the fate of the IPL franchisee, Deccan Chargers on September 15 in Chennai.