Insolvency process: CoC open to new bids for Deccan Chronicle, says NCLT

Vision India Fund's original resolution plan had failed to get the mandatory 66 per cent vote in the CoC earlier

The Committee of Creditors of Deccan Chronicle Holdings Limited (DCHL) was open to examining fresh resolution applications, including a modified resolution plan submitted earlier this month by Srei group’s Vision India Fund, The Hyderabad Bench of the National Company Law Tribunal said on Monday.

On Friday, the National Company Law Appellate Tribunal (NCLAT) set aside the Hyderabad Bench’s orders dated November 16, 2017, which barred Srei Infra Finance from becoming a member of Committee of Creditors (CoC) on grounds of being a related party. 

The appellate tribunal also excluded the appeal-to-order period of seven months and nine days and directed