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Deccan Chronicle Holdings Ltd has issued and allotted 6,60,37,735 equity shares of Rs. 2 each at a premium of Rs 1.18 per share to its lender SREI Infrastructure Finance Limited.
The company informed the BSE that this is pursuant to orders of the Debt Recovery Tribunal - I, Kolkata dated December 24, 2014, and pursuant to meeting of the board dated January 16, 2014, and meeting of the preferential issue committee of the Board dated September 8, 2014.
DCHL said the 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 Debt Recovery Tribunal - I, Kolkata.
The said shares have been issued in the "physical form" as requested by SREI Infrastructure Finance Limited, DCHL said.
The allotment of shares 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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