NCLT asks Deccan Chronicle RP to refer Srei arm's revised proposal to CoC

On August 1, the National Company Law Appellate Tribunal (NCLAT) had extended the resolution period by another 180 days

The Hyderabad bench of National Company Law Tribunal (NCLT) on Monday directed the resolution professional (RP) of Deccan Chronicle Holdings Limited (DCHL) to place the revised resolution proposal of Srei's investment arm, Vision India Fund, before the Committee of Creditors(CoC) for consideration.

In June, the resolution professional had approached the adjudicating authority, seeking directions in this regard as the resolution applicant had filed its modified plan at the last hour on the concluding day of mandatory resolution period after the CoC rejected the original plan with close to 44 per cent dissenting votes.  

On August 1, the National Company Law Appellate Tribunal