Srei inching closer to taking control of DCHL?

In what can be seen as a major move by Kolkata-based Srei Infrastructure Finance Limited (Srei) to take over control of debt laden city-based Deccan Chronicle Holdings Limited (DCHL), Srei managed to get the approval of DCHL shareholders to appoint five directors it proposed at the extraordinary general meeting (EGM) held here on Monday. The EGM, that was conducted at a hotel opposite DCHL's office in Secunderabad, lasted for over half-an-hour and was attended by around 80 shareholders.

The five directors, whose appointment was cleared by shareholders, are Manoj Mohanka, Sabina Inderjit, Shamik Roy, Prashant Mustii and Dipen Chatterjee.

Ganesh Prasad Bagree, senior VP at Srei Infrastructure Finance Limited, who officiated at the EGM, said the five directors are from diverse fields and will bring in different management skills required to run DCHL, which is currently in a financial mess................Read more


Source: The Times of India

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