Srei Group's plan for DCHL resolution falls short of creditors' votes

Srei Group’s resolution plan for debt-ridden Deccan Chronicle Holdings Limited (DCHL) secured just 55 per cent of votes against the required percentage of 66 by the Committee of Creditors (CoC) on Tuesday, the last day of the deadline.

After the voting ended, applicant firm India Vision Fund submitted a modified plan in a last-ditch effort to stay in the ring, but there was no immediate response from the CoC, sources said.

“The mood of the house was in favour of the resolution as had been reflected in the voting pattern,” resolution professional Mamata Binani told Business Standard on Wednesday.

While she refused to