, which had bought the franchise for $ 107 million at an auction in 2008 before the first edition of the IPL, rejected the bid as it reportedly didn't like the terms of payment.
Though Wright filed another petition on August 31, stating that the London court order be executed urgently since the DCHL
management was planning to sell off the Deccan Chargers, it was dismissed.
management informed the National Stock Exchange that it is going in for restructuring of the debt by filing an application with the Corporate Debt Restructuring Cell, under the CDR mechanism, as envisaged under Reserve Bank of India ( RBI) guidelines.
And because of that relationship, between the DCHL
, the owner of the franchise, made a fervent plea Jaypee to buy the franchise.
And like Mallya's Kingfisher Airlines, Reddy's DC too has started crumbling," a stock analyst associated closely with DCHL
There are as many as 28 bankers, financial institutions and non- banking financial institutions which have lent money to the company are apparently bringing pressure on the promoters to sell the assets of the DCHL
to clear their dues.
We will see how we can recover this money from DCHL
2 per cent in DCHL
and with this invocation of pledged shares of 1.
Arbitrator CK Thakker had granted status quo to DCHL
, which the BCCI appealed against in the High Court.
The bank has already been mandated to carry out a forensic audit on the balance sheet of DCHL
PVP Ventures' plan to buy Deccan Chargers might have been foiled after DCHL
didn't like the terms of payment, but it won't come as a surprise if they end up winning the bid and own the new franchise.
At the time, the BCCI was trying to help DCHL
overcome the financial mess it was in.