Deccan Chronicle falls on investigation

Shares in Deccan Chronicle have fallen 63.5 percent.

Written by Agencies | Published: September 11, 2012 5:53 pm

* Shares in Deccan Chronicle Holdings falls nearly 10 percent after India’s banking secretary DK Mittal says forensic auditing investigation in the company is underway and a few meetings have been held.

* The banking secretary also says the total exposure of state-owned and private banks to Deccan Chronicle group is about 50 bn rupees.

* Shares in Deccan Chronicle have fallen 63.5 percent even after its chairman assured markets that the company had enough assets to face what he called a liquidity crisis on Aug. 2.

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