Promoter shareholding in DCHL comes down to 15.39% in Q1

Written by fe Bureau | Bangalore | Updated: Aug 13 2014, 07:21am hrs
The promoter shareholding in the troubled media firm Deccan Chronicle Holdings (DCHL) has come down to 15.39% during the end of June quarter from 24.05% during the end of last fiscal, according to a filing made to the Bombay Stock Exchange on Tuesday.

The promoters, who has been losing its holding in the company, held 32% of the company during the December quarter of last fiscal. While the holdings of domestic institutional investors and foreign institutional investors remained roughly the same, while the rest have seen their stake in the company go up to 68.25% from 59.33% in the March quarter.

DCHL owes about Rs 4,000 crore to various public sector and private banks and other financial institutions. Some of its lenders, including Canara Bank, filed complaints in various courts and forums for alleged default of payments.

The CBI had also registered a case against DCHL chairman T Venkattram Reddy for alleged criminal conspiracy, cheating and forgery after finding several irregularities in the balance sheet of

the company in a forensic