Deccan Chronicle Holdings has received an additional 87 days to wrap up its insolvency resolution process beyond the 270-day initial deadline, on account of litigation. The Hyderabad bench of the National Company Law Tribunal (NCLT) has extended the time for this till July 10.
The Hyderabad Bench of the National Company Law Board, without extending the 270-day period, has ordered exclusion of 87 days from 270 days, on account of the time consumed by litigation. According to Insolvency and Bankruptcy Code (IBC) norms, restructuring a company has to conclude within 180 days after ...
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