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Four Deccan Chronicle directors resign




Published by: Shubhanshu Sharma
Published on: Mon, 17 Dec 2012 at 16:07 IST
Four Deccan Chronicle directors resign
New Delhi: Deccan Chronicle Holdings said on Monday that the company has accepted the resignation of it four independent board of directors, which includes M Sukumar Reddy and G Kumar.

In the statement filed to the BSE, company said the resignations of V Suresh and P Siddhartha have also been accepted.

The company had appointed V Lakshmana Charya, Venkateswarlu Malapaka and S Suresh as additional directors in a meeting conducted on December 8, added the statement.

In September this year, the company's board had confirmed a resolution asking Corporate Debt Restructuring cell to rejig its existing debt.

Financial Services Secretary D K Mittal had said in September this year that the total exposure of banks to Deccan Chronicle Holdings is around Rs. 5, 000 crore of which exposure of public sector banks alone is around Rs. 3, 800 crore.

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