Srei convenes Deccan Chronicle EGM, proposes appointment of 5 new directors

In an apparent move to take over the management of the debt-ridden Deccan Chronicle Holdings Private Limited (DCHL), Kolkata-based Srei Infra Finance Limited (SIFL), which is one of its lenders and also claimed to be the single largest shareholder, has convened an Extraordinary General Meeting on March 20, 2017 for appointment of five new directors on the board of DCHL besides proposing other agenda.

Srei has asserted its right to hold the EGM in terms of Section 100(4) of the Companies Act, 2013, stating that the DCHL board has not been able to convene EGM even though it had sent a