Deccan chronicles(owner of Deccan chargers IPL is almost bankrupt)

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M

MAGNeT

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I dont know how many guys keep a tab of them.Owner of deccan chronicle newspaper and also owner of deccan charger ipl team have been booked for cheating and also people holding non convertible debentures of the company face risk of non payment of principal.

The company is bankrupt as it siphon of money from there main business to new business and all that has gone down the drain.
They pledged their shares with relagare and ifci and now these companies are asking for liquidation of the company in a sense to sell those pledge shares to recover there money.The share is already tanking 10 percent; and now just value 13 buks making new lows everyday.

When these biggies start selling their quota in open market more blood will follow.

In short deccan charger will soon be sold and people investing in fixed deposit or NCD of deccan are in more trouble.

Deccan Chronicle's NCD default scares investors - CNBC-TV18

Note:: i am feeling bad for gayatri reddy. ..lolz
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isn't those guys with tonnes of lambo's, Rolls, Bentleys and what nots?? Just sell the cars.. u get money for everything.. :)
 
m-jeri said:
isn't those guys with tonnes of lambo's, Rolls, Bentleys and what nots?? Just sell the cars.. u get money for everything.. :)
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Do you think such luxuries bought on personal name?You buy pay 120% import duty and than wealth tax on top of it...

No one is such a fool.Even sachin ask for exemption on duties.
All is bought on companies name and expenses are deducted from company profits and depreciation benefit taken into account.In short the fleets are part of the company and company took more money as lending and put it down the drain.
 
^^ Infact its the other way...
They "technically" just hold managing positions in the company and so if the company/group of companies goes kaput legally their personal assets cannot be attached by the banks or govt.
This is exactly the case while Mallyas are njoying even now. So if the company is bankrupt the max law can do is appoint a body to take over the company and sack these ppl. Since they do not "OWN" the company themselves the court cannot connect the company finances with their personal assets.
Only properties which the company financed/ provided against their held positions can be attached.
Like if they buy an expensive car or villa the company sanctions an amount as "bonus"/special expense for these people to
1)thanks them for their contribution to the company.
OR 2) As a part of compensation for the high post they hold.
Like our ministers get money for cars.

Gayatri must have already accumulated enuf wealth overseas .... So dont worry about her bro....
Even in their worst days ... their day begins with a hangover and ends with a party at some 7star :)
 
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