NCLT holds back approval of DCHL resolution plan to resolve IDBI grievance

IDBI claims it has got a raw deal in the plan; matter to come up for hearing to February 19

The Hyderabad bench of the National Company Law Tribunal (NCLT) has kept the approval of Deccan Chronicle Holding Limited (DCHL)'s resolution plan pending while asking the resolution applicant on Tuesday to respond to the objections raised by IDBI Bank, which claims it has got a raw deal in the plan.

The committee of creditors (CoC) of DCHL had recently endorsed the resolution plan, submitted by Srei Multiple Asset Investment Trust, with 82 per cent vote in its favour. The plan was placed before the bench for approval on January 25 by the DCHL resolution professional (RP), Mamata Binani.

An interim application filed