NEWS & ADVICE : PERSONAL LOAN
Deccan Chronicle owes to 7 public sector banks
By Vaibhav Aggarwal
Nov 23, 2012
Print    Email    RSS   

The Deccan Chronicle Holdings Ltd owes total exposure of Rs 1090 crore to seven public sector banks.

Among all the seven banks, only Canara Bank's account has turned into non-performing asset (NPA). Canara Bank has given this information in written to Rajya Sabha on Thursday.

Mr. Namo Narain Meena, Minister of State said, "As against the same (total exposure), they held security of value Rs 1,469.04 crore". Canara Bank has the highest exposure to Deccan Chronicle Holdings with Rs 350 crore and it has been classified as non-performing asset.

"Banks are closely monitoring their loan portfolio and making all out efforts, as per the Reserve Bank of India guidelines in vogue, so that their loan amount does not turn into NPA," Namo Narain Meena said.

Deccan Chronicle, the Hyderabad-based publisher of English daily is in the news for lack of liquidity it is facing with and lenders filing a series of cases, including a winding-up petition by one of the lenders.

The company also Indian Premier League franchise team Deccan Chargers, which represented the team from Hyderabad, has been removed from the league for failure to meet obligations such as providing bank guarantees by the Board of Control for Cricket in India.

The efforts of the Deccan Chronicle management to sell the team did not materialize. The Hyderabad franchise was recently taken over by Sun TV.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
An analysis of alternatives to personal loans
Credit profile and its effect on loan...
Carnival of Indian Personal Finance Blogs # 9
Carnival of Indian Personal Finance Blogs #2
Carnival of Indian Personal Finance Blogs # 7


HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive