Under Debt Recovery Tribunal directives
Deccan Chronicle Holdings announced that pursuant to orders of the Hon'ble Debt Recovery Tribunal - I, Kolkatta dated 24 December 2014, and pursuant to meeting of the Board dated 16 January 2014 and meeting of the preferential issue committee of the Board dated 08 September 2014, the Company has issued and allotted 6,60,37,735 Equity shares of Rs. 2 each at a premium of Rs. 1.18 per share to SREI Infrastructure Finance being a lender to the Company.The said shares have been issued pursuant to the conversion option exercised by SREI Infrastructure Finance Limited as per Section 81(3) of the Companies Act, 1956 and as directed by the said orders of the Hon'ble Debt Recovery Tribunal - I, Kolkatta. The said shares have been issued in the physical form as requested by SREI Infrastructure Finance.
The allotment is subject to the provision of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 Listing agreement signed with the Stock Exchanges, guidelines issued by Reserve Bank of India, Government of India and other applicable laws.
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