Indiabulls attempts to seize Deccan Chronicle office, taken to Hyderabad HC

DCHL's resolution professional approached the Hyderabad High Court against Indiabulls' move on the grounds that there was a moratorium on all such actions

The resolution professional of Deccan Chronicle Holdings Limited (DCHL) on Tuesday approached the Hyderabad High Court seeking orders against an attempted seizure of the company's corporate office by Indiabulls.     

Indiabulls Financial Services Limited has a Rs 1.65 billion claim from DCHL, which is undergoing an insolvency resolution process at the Hyderabad Bench of the National Company Law Tribunal (NCLT).  

On Monday, armed with a chief metropolitan magistrate's directions, the officials of the non-banking financial company initiated a seizure of the Deccan Chronicle's main office located in Secunderabad. Indiabulls claims to have an exclusive lien over the media house's corporate