Friday, March 15, 2013

Canara Bank files case against Deccan Chronicle with CB

Public sector lender Canara Bank has filed charges of fraud with the Central Bureau of Investigation (CBI) against Hyderabad-based media group Deccan Chronicle Holdings (DCHL) for siphoning off funds loaned to the company, a top official from the bank told FE. The official added that the bank is simultaneously informing the Reserve Bank of India (RBI) and approaching the Debt Recovery Tribunal (DRT) for recovery of dues through the liquidation of the company’s assets.....

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