Deccan Chronicle Holdings has postponed the proposed issue of foreign currency convertible bonds (FCCBs) for want of government approval.In a release issued to the BSE today, the Hyderabad-based company said the board of directors today recommended deferring the FCCB issue until the next board meeting for want of official notification from the government allowing foreign corporate bodies/NRIs/FIIs to invest in Indian newspaper companies.The company, the publishers of english newspaper Deccan Chronicle, said the board also authorised managing director T Vinayak Ravi Reddy and executive director P K Iyer to increase the advertisement tariffs up to 30% with effect from July 20, 2005.
