DOCSLIB.ORG

A Case Study on Deccan Chronicle Holdings Limited: a Tragic Story Of

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
A Case Study on Deccan Chronicle Holdings Limited: a Tragic Story Of A CaseStudyonDeccanChronicleHoldingsLimited: A TragicStoryofaPublisher SecondEditionofJIDNYASA : ThirstforKnowledge2014 A CaseStudyonDeccanChronicleHoldingsLimited: A TragicStoryofaPublisher WhyFDIinRetail? A StudywithReferencetoSelectStakeholders A CaseStudyonDeccanChronicleHoldingsLimited: A TragicStoryofaPublisher Prof.SwatiKhatkale (AssistantProfessor,SymbiosisSchoolofBankingManagement) Abstract and converted into a daily. In 1976, congress While celebrating its platinum jubilee (75 years of politician and businessman T Chandrashekhar establishment), Deccan Chronicle Holdings Limited Reddy acquired the company. T C Reddy had a (DCHL) faced a gamut of problems. DCHL, one of variety of businesses like bottling plants, aluminum the top English Newspaper Publishing House in foil, hotels etc. His son, Mr. VenkattaramReddy took Southern India, recently ventured into other over as the chairman of the family business at the age businesses like IPL franchise -Deccan Chargers & of 21. He had Diploma in Printing Technology and Life Style Retail-Odyssey . Mismanagement and was well versed with printing & publishing business. unrelated diversification led to default on its non- But he was more known for his extravagant style of convertible debentures. It faced legal action from having expensive cars, fine cigars and keen interest banks & other financial institutions for non- in horserace bidding. His brother, Mr. Vinayak Ravi repayment of debt and misrepresentation of balance Reddy was co chairman of the company. Mr. sheet. Kotak Mahindra Bank even took actual Vankattaram Reddy's wife, Manjula Reddy worked possession of its Hyderabad based Kodapur plant as senior features editor and their daughter Gayatri under SARFASIAct 2002. This case goes into depth Reddy as features editor. Their son T Vijay Reddy to find out the causes of financial distress. It also was the Vice President (finance) of the company. illustrates various options available to bankers & other financial institutions to recover its loan. This case can also be used in the class for finding out options left for a defaulted company to get back its profitability. Deccan Chronicle Holdings Limited Deccan Chronicle Holdings Limited (DCHL) was established as a printing & publishing company in 1938. It started publishing its flagship English newspaper Deccan Chronicle as weekly newspaper Figure1:DeccanChronicleNewspaper 21 SecondEditionofJIDNYASA : ThirstforKnowledge2014 Volume1ofJIDNYASA : ThirstforKnowledge2014 WhyFDIinRetail? A StudywithReferencetoSelectStakeholders Vinayak Reddy's daughter Archana was marketing million per day. It ventured into the arena of financial head of the company. newspapers in April 2008, by launching Financial Chronicle. Financial Chronicle was published from Core Business Operations Hyderabad, Chennai and Bengaluru. In the same year DCHL made an alliance with International As the name suggests, Deccan Chronicle's Herald Tribune to publish business section of operations dominated in Southern part of India. It Deccan Chronicle. Thus Deccan Chronicles grew published various newspapers & magazines namely leaps & bounds with time. Deccan Chronicle (English Daily), Financial Chronicle (English Financial Newspaper), Andhra Bhumi (Telugu Newspaper),AsianAge etc. In 2012, Diversification of Business Deccan Chronicle was the fourth largest English With the growth, DCHL started diversification by newspaper in India. Deccan Chronicle was venturing into other businesses. On 5th September publishing thirteen editions from Hyderabad, 2005, DCHL acquired 100% shares of lifestyle retail Chennai, Bengaluru, Viishakhapatnam, Vijaywada, chain Odyssey by paying Rs 61.2 crore in cash. Rajamundry, Nellore, Karimnagar, Coimbatore, Odyssey was having a chain of retail stores selling Kochi, Thrivantapuram, Kozhikode and Anantpur. gifts, toys, stationary, books, music, multimedia etc. The circulation of newspaper in Hyderabad was the The deal was considered highly overpriced as the top highest around 5 lakh daily. It was followed by other line of Odyssey was only Rs 20 crore in 2005. The newspapers like The Hindu (5 lakhs), The Times of price was more than 3 times of the turnover of India (2.5 lakh- 3 lakh) and The New Indian Express Odyssey. DCHL expanded Odyssey from 12 stores (0.5 lakhs). According to a media consultant K in 6 cities to 46 stores in 13 cities in Andhra Pradesh, Satyanarayana Deccan Chronicle dominated local Tamilnadu, Maharashtra and Karnataka. In spite of advertising in English print media in Hyderabad the expansion, the Odyssey recorded losses. It with 60% share. reported net loss of Rs 11.57 lakhs in 2010 against profit of Rs 2.03 crore in 2009. Expansions On January 24th 2008, DCHL sported a new business On 1st April 2003, it merged with another publishing of Indian Premium League (IPL) franchise. DCHL house – Nandi Publishers Private Limited. In the bought Hyderabad cricket team of IPL, Deccan year 2003-04, it expanded its business by developing Chargers for $107 million (around Rs 589 crore). a colour printing centre in Hyderabad. All this The team was able to bring international cricketers increased its publishing capacity from 3,15,000 on the board likeAdam Gilchrist,Andrew Symonds, copies per hour to 4,35,000 copies per hour. In 2004, Chaminda Vaas, Herschell Gibbs & Shahid Afridi. DCHL brought its Initial Public Offer (IPO) in the The team did not perform well in first season and market. The IPO was 9.3 times oversubscribed, scored last. In the next session, it won the title. But in raising 179 crores for the company. DCHL acquired 2012, once again it stood the last. Asian Age Holdings in May 2005. It was a publisher DCHL also expanded its wings into Aviation of English newspaper, The Asian Age, printed from Industry by starting Aviotech. Aviotech commenced Delhi, Mumbai, Kolkata and London. Soon in 2007, its business in the arena of chartered flight services to Deccan Chronicle's circulation reached average 1 grab untapped private business aviation business in 22 SecondEditionofJIDNYASA : ThirstforKnowledge2014 A CaseStudyonDeccanChronicleHoldingsLimited: A TragicStoryofaPublisher WhyFDIinRetail? A StudywithReferencetoSelectStakeholders India. Aviotech ordered 10-12 airplanes from Sukhi 2012, it even delayed the mandatory disclosure of Civil Aircraft. According to Kapil Arora of Earnest annual financial statements and published it only & Young “Chartered Flight services are in very after September 2012. The financial statements in nascent stage in India and any volume & profits 2012 showed a net loss of 1040 crores against last can be seen only after 5 to 8 years.” With civil year's profit of 162 crores. An year ago in 2011, the aviation sector facing various difficulties of rising company's balance sheet reported a strong liquidity fuel cost, depreciating Rupee, high taxes, high position with a debt of only Rs 313 crore and cash airport costs; there is very thin hope that Aviotech position of Rs 264 crore and receivables of 258 will churn any profits in the coming few years. crores. Still the CEO & chairman of the company stated the problems rose due to liquidity crisis, “The real issue is a liquidity crisis that has arisen due to Financials: significant reduction in ad (advertisement) With increased diversification & expansion, the firm spending by domestic and multinational could not sustain its profitability. DCHL reported companies in India.” Astonishingly the debt losses of Rs 166.24 crore inApril- June 2012 quarter increased more than 10 times within a year to 3902 from net profit in the same quarter in the earlier year. crores in 2012 from 313 crores in 2011. In the suspicious situations after default, managing Table1:Quarterly Results director N. Krishnan resigned from the company on 25th July 2012. In December 2012, three more board Particulars Quarter Ended of directors resigned. Jun.2012 Jun.2011 % Var. Sale of Deccan Chargers Sales 145.43 201.84 -28 DCHL failed to pay Rs 100 crore to BCCI resulting OPM% -44.23 18.48 -339 expulsion of Deccan Chargers. Therefore DCHLhad PBDT -153.34 31.47 PL to sell Deccan Chargers to Sun TV at a price of mere Rs 425.2 crores on October 25th 2012. During the PBT -166.24 18.02 PL distress, the sale price of Deccan Chargers was even NP -166.24 12.18 PL less than its acquisition cost of 589 crores. Source: Moneycontrol.com The Rating DCHL's troubles increased when Deccan Chargers' Since 25th July 2008, Deccan Chronicle Holdings ex CEO, Tin Wright sued the company in a London Limited had an investment grade A1+ rating of Court for breach of contract. DCHL faced huge CARE. On 1st July 2012, it paid Rs 300 crore debt but compensation payment of £10.53 million to Tin failed to pay Rs 150 crore non-convertible Wright. debentures to institutional investors like Pramerica Mutual Fund and Canara Bank. Pramerica Mutual The Default Fund invested money of 1.3% of its liquid fund, The Company defaulted on the payment of Non- 3.3% of ultra-short term bond fund, 6.2% of credit Convertible Debentures (NCD) on July 2, 2012. In opportunities fund, 23 SecondEditionofJIDNYASA : ThirstforKnowledge2014 Volume1ofJIDNYASA : ThirstforKnowledge2014 WhyFDIinRetail? A StudywithReferencetoSelectStakeholders Reasons of Failures According to various analysts & newspapers, the acquisitions of DCHL went soar. According to the Karvy brokers “money raised for the media company went into other areas for example Rs 50 crore went to Aviotech from Rs 170 crore raised from Future Capital. ” V Sundar Raja, founder, www.sundartrends.in
Load more

Recommended publications
  • Newspaper Wise.Xlsx
    PRINT MEDIA COMMITMENT REPORT FOR DISPLAY ADVT. DURING 2013-2014 CODE NEWSPAPER NAME LANGUAGE PERIODICITY COMMITMENT(%)COMMITMENTCITY STATE 310672 ARTHIK LIPI BENGALI DAILY(M) 209143 0.005310639 PORT BLAIR ANDAMAN AND NICOBAR 100771 THE ANDAMAN EXPRESS ENGLISH DAILY(M) 775695 0.019696744 PORT BLAIR ANDAMAN AND NICOBAR 101067 THE ECHO OF INDIA ENGLISH DAILY(M) 1618569 0.041099322 PORT BLAIR ANDAMAN AND NICOBAR 100820 DECCAN CHRONICLE ENGLISH DAILY(M) 482558 0.012253297 ANANTHAPUR ANDHRA PRADESH 410198 ANDHRA BHOOMI TELUGU DAILY(M) 534260 0.013566134 ANANTHAPUR ANDHRA PRADESH 410202 ANDHRA JYOTHI TELUGU DAILY(M) 776771 0.019724066 ANANTHAPUR ANDHRA PRADESH 410345 ANDHRA PRABHA TELUGU DAILY(M) 201424 0.005114635 ANANTHAPUR ANDHRA PRADESH 410522 RAYALASEEMA SAMAYAM TELUGU DAILY(M) 6550 0.00016632 ANANTHAPUR ANDHRA PRADESH 410370 SAKSHI TELUGU DAILY(M) 1417145 0.035984687 ANANTHAPUR ANDHRA PRADESH 410171 TEL.J.D.PATRIKA VAARTHA TELUGU DAILY(M) 546688 0.01388171 ANANTHAPUR ANDHRA PRADESH 410400 TELUGU WAARAM TELUGU DAILY(M) 154046 0.003911595 ANANTHAPUR ANDHRA PRADESH 410495 VINIYOGA DHARSINI TELUGU MONTHLY 18771 0.00047664 ANANTHAPUR ANDHRA PRADESH 410398 ANDHRA DAIRY TELUGU DAILY(E) 69244 0.00175827 ELURU ANDHRA PRADESH 410449 NETAJI TELUGU DAILY(E) 153965 0.003909538 ELURU ANDHRA PRADESH 410012 ELURU TIMES TELUGU DAILY(M) 65899 0.001673333 ELURU ANDHRA PRADESH 410117 GOPI KRISHNA TELUGU DAILY(M) 172484 0.00437978 ELURU ANDHRA PRADESH 410009 RATNA GARBHA TELUGU DAILY(M) 67128 0.00170454 ELURU ANDHRA PRADESH 410114 STATE TIMES TELUGU DAILY(M)
    [Show full text]
  • Airtel Hyderabad Marathon 2019”
    Media Coverage Dossier “Airtel Hyderabad Marathon 2019” For the Period May 2019 –August 2019 Hyderabad Runners Society Activities 2019 Hyderabad Runners 12th Anniversary 2019 Outdoor Kids Run Pre Event 2019 Outdoor Kids Run 2019 Go Heritage Run 2019 T Shirt & Medal Launch AHM 2019 Nagole Run 2019 Registrations Release AHM 2019 U.S. Consulate Run Pre Event 2019 U.S. Consulate Run 2019 Trophy Launch AHM 2019 Sport Expo and Traffic Advisory AHM 2019 5K and CXO's Run AHM 2019 Airtel Hyderabad Marathon 2019 Stories AHM 2019 Media Coverage Analysis – AHM 2019 Client Mentions News Coverage by Medium Airtel 250 Print 181 HRS 225 TV Channel 56 Photo 269 Online 49 Total 286 Media Advertising Equivalent (MAV): 59088477 (5.9 Cr) PR Value Equivalent (3 X MAV): 177265431(17.77 Cr) CAT A – English (57) CAT A – Telugu (70) CAT B – Telugu (21) Deccan Chronicle:9 Eenadu: 17 Mana Telangana: 6 The Times of India:14 Sakshi: 13 Nava Telangana: 3 The Hindu:7 Andhra Jyothi:6 Surya: 11 The New Indian Express:14 Namaste Telangana:9 Prajashakthi: 3 The Hans India:10 Vartha:10 Prajapaksham: 4 Telangana Today:14 Andhra Bhoomi:4 Vishalandhra: 2 Pioneer: 4 Andhra Prabha:9 Munsif:1 Daily Hindi Milap: 3 CAT A – TV Channels CAT B – TV Channels V6 NEWS: 12 CVR NEWS:2 TV9: 2 Raj News: 2 ETV TG: 7 Sneha TV: 1 SAKSHI TV: 2 T NEWS: 15 I NEWS: 3 HMTV :5 10 TV: 6 NTV:1 Hyderabad Runners 12th Anniversary 2019 Date: May 26th 2019 Venue: Sanjeeviah Park Compiled by Client HYDERABAD RUNNERS Date May 28 2019 Headline Committed to Running Publication The New Indian Express Edition
    [Show full text]
  • Deccan Chronicle
    09-05-2011 Translation tools: Student project bag… Other Publications E-Paper DC-Matrimonials Deccan Chargers Classifieds Investor Desk Tw itter Edition Login Register HOME CHANNELS EDITORIAL TABLOID SLIDESHOWS SPECIALS NATION WORLD CITIES BUSINESS SPORT SCI-TECH LIFESTYLE SHOWBIZ Monday, May 09, 2011 Last Update: 09:04 AM IST Astroguide Prayers (Macca Masjid) CITIES Home » Channels » Cities » Chennai Translation tools: Student project bags Central aid May 6, 2011 D. Daniel Raj Coimbatore SHARE EMAIL PRINT Like 2 More From Cities 1. Fake question paper scam 2. ‘BJP money dividing Cong cadre' 3. Eshwarappa not into cabinet: BSY 4. 14-yr-old pens book on Tirukkural 5. Two die as blazes break out Amrita University researchers demonstrate the machine-aided translation system developed by them — DC A group of researchers at Amrita Vishwa Vidyapeetham at Ettimadai here has developed tools for machine-aided translation that can achieve near 100 per cent accuracy for the morphologically rich ‘Classical’ Tamil language. Latest News The researchers, V. Dha-nalakshmi, M. Anandkumar and S. Saravanan, led by Prof K.P. Soman, head of Centre for Excellence in Computational Engineering and Networking of Amrita University, and assistant AIADMK prays for Jaya’s win professor of the department Sabarimalai Manikandan, have developed the tools to translate from Bhushan to PC: Make CFSL report public English to Tamil. Kalmadi may be charged The tools were developed as part of a project funded by the ministry of human resources and Law ministry seeks report on scam cases development to create machine translation tools for Dravidian languages, including Malaya-lam, Telugu ‘80 LeT, Hizb militants waiting to cross and Kannada.
    [Show full text]
  • MJ Akbar V. Priya Ramani
    IN THE COURT OF SHRI RAVINDRA KUMAR PANDEY, ACMM-01, ROUSE AVENUE DISTRICT COURTS, NEW DELHI Complaint Case No. 05/2019 CNR No. DLCT12-000025-2019 Mobashar Jawed Akbar Vs. Priya Ramani 17.02.2021 ID No. : 05/2019 CNR No. DLCT12-000025-2019 Date of commission of offence : 08.10.2018 Date of institution of the case : 18.10.2018 Name of the complainant : Mr. Mobashar Jawed Akbar S/o Sh. Sheikh Akbar Ali, Name of accused person and : Ms. Priya Ramani address Offence complained of : U/s 500 IPC read with Section 499 IPC Plea of the accused : Pleaded not guilty Final order : Accused acquitted regarding commission of offence punishable U/s 500 IPC. Date of judgment : 17.02.2021 . -2- J U D G M E N T 1. As per complaint of the complainant, complainant Mobashar Jawed Akbar is a Politician who was Minister of State in External Affairs and is a Member of Parliament in Rajya Sabha from Madhya Pradesh State. It is averred that complainant is a veteran indian journalist and is author of several renowned books. It is also averred that complainant is married having two children. It is averred that he was Member of Parliament between 1989 and 1991. It is also averred that he was appointed as National Spokes Person during the year 2014 in General Elections and in the July 2015, he was elected to Rajya Sabha from Jharkhand State. It is averred that complainant had a long carrier in journalism and he launched India©s First Weekly Political News Magazine, Sunday in the year 1996 and two daily Newspapers, The Telegraph and The Asian Age in the year 1989 and 1994 respectively.
    [Show full text]
  • Media Coverage ICT Iot Statrup Tech Expo 2018
    MEDIA COVERAGE REPORT ICT-IOT STARTUP TECH EXPO 2018 ITI Bangalore Plant (1st & 2nd September 2018) PREPARED BY PRINT COVERAGE Publication: The Hindu Business Line Edition: All Editions Date: 31st Aug 2018 Pg No: 5 Publication: The Hindu Edition: All Editions Date: 31st Aug 2018 Pg No: 4 Publication: Vijayavani Edition: All Editions Date: 31st Aug 2018 Pg No: 3 Publication: Vishwavani Edition: All Editions Date: 31st Aug 2018 Pg No: 3 Publication: Deccan Herald Edition: bengaluru Date: 2 Sep 2018 Pg No: 3 Publication: Prajavani Metro Edition: Bengaluru Date: 2 Sep 2018 Pg No: 2 Publication: Samyuktha Karnataka Edition: All Editions Date: 1st Sep 2018 Pg No: 2 Publication: Samyuktha Karnataka Edition: All Editions Date: 2nd Sep 2018 Pg No: 2 Publication: Vijayakarnataka Edition: All Editions Date: 1st Sep 2018 Pg No: 2 Publication: Eesanje Edition: Bengaaluru Date: 31st August Pg No: 4 Publication: Deccan Herald Edition: Bengaluru Date: 2 Sep 2018 Pg No: 2 Publication: Prajavani Edition: Bengaaluru Date: 2nd Sep 2018 Pg No: 2 Publication: Vijayvani Edition: Bengaaluru Date: 2nd Sep 2018 Pg No: 2 Publication: Times of India Edition: All Editions (38) Date: 3 Sep 2018 Pg No: 13 Publication: Deccan Chronicle Edition: Bengaluru Date: 3 Sep 2018 Pg No: 04 Publication: The Hindu Edition: All Editions (17) Date: 3 Sep 2018 Pg No: 06 Publication: Deccan Herald Edition: All Editions (05) Date: 3 Sep 2018 Pg No: 10 Publication: The New Indian Express Edition: Bengaluru Date: 3 Sep 2018 Pg No: 02 Publication: Economic Times Edition: All Editions
    [Show full text]
  • 5Dqfkl Zlqv Idvw Wudfn 6Pduw &Lw\ Udfh
    05,203E9 !"#"$ 525(E / <71#(# '7(5 (756( #/5$ 1'2 (+ 3( 53 521'<? !"# $"% =$ ( #(!6 3<( =4< (''=< $=< $=<53 <5' =$$<' 7/=<( =$ .=6' $$%!#%& &%!&%& %!'%&&%! # .'?F 00# -GC * C ! !((>F H( ' ( !" #$%!"&" ' (" "%" )*( ( () %" $1'5= =$ tion for all, but making Ranchi 1397.18 crores of which will be city. Smarter Ranchi will offer el time and increasing average / a Smart City is a great chal- used for developing 341 acres smarter versions of basic ameni- travel speed, stated Municipal 3<$572 lenge. Government has accept- in HEC as an educational hub ties –rainwater harvesting, sew- Commissioner Prashant Kumar. / * 2>7= (2 ed this challenge and will make whereas 92.09 crores is to be erage treatment plants, solid In their Smart City proposal 5 @ the most of this opportunity. As invested in Pan-city Solution. waste management, use of solar to Union Urban Development ! ' <<=$553 =2 a State capital, Ranchi should These expenses are to be equal- energy, Intelligent Transport Department, RMC had pro- 7( <=>' have all the amenities: Urban ly borne by the Union System, Wi-Fi hotspots, carbon posed to develop the city as a ' ) Development Department and Government, State emission reduction to name a knowledge hub for Eastern 72 NA 2 O ' '#=2 5 71#+? Ranchi Municipal Corporation Government and third parties few. Internet of Things (IoT) India that will also address the B ! @ $=< <(#/5 will ensure that,” stated Urban like World Bank. will be used prominently to effi- socio-economic needs of its 5 Development Minister CP “The Area Based ciently manage them. denizens. 150 acres of the avail- 4 ' Singh during a press conference Development in HEC is meant Sluggish transport system of able land will be converted into .
    [Show full text]
  • Job and Salary Satisfaction of Journalists in Telugu Press: a Survey Analysis in Andhra Pradesh
    International Journal of Research in Social Sciences Vol. 8 Issue 10, October 2018, ISSN: 2249-2496 Impact Factor: 7.081 Journal Homepage: http://www.ijmra.us, Email: [email protected] Double-Blind Peer Reviewed Refereed Open Access International Journal - Included in the International Serial Directories Indexed & Listed at: Ulrich's Periodicals Directory ©, U.S.A., Open J-Gage as well as in Cabell‟s Directories of Publishing Opportunities, U.S.A Job and Salary Satisfaction of Journalists in Telugu Press: A Survey Analysis in Andhra Pradesh Dr. J.Madhu Babu* J.Manjunath** ABSTRACT This study explores how to job and salary satisfaction of Journalists inTelugu Press inAndhra Pradesh.For this study, a survey was conducted on 100 journalists working at 9 general daily Newspapers in Krishna District (Rural) of Andhra Pradesh, India. The research results showed that, demographic profile of journalists,Qualification in Journalism, working position in the present organization, Job and salary satisfaction.Majority of journalists feel unsatisfied with their salaries, and they have no appointment orders. They were said their work was temporarily basis. Finally concluded that the attitude of managements did not interest to pay salaries to Journalists. Key words: Telugu Press, Journalists, Satisfaction, salary, Job. Introduction At the beginning of the journalistic career the rather tough and adverse conditions i.e. low payments, unpaid extra working hours, acting as assistant to the Chief Reporter or Staff reporter by serving personal works, and not working as a real reporter. It‟s may give rise to professional dissatisfaction and lead journalists to change their jobs and sometimes, even their careers‟.
    [Show full text]
  • Political News Election
    HTTP://WWW.UPSCPORTAL.COM POLITICAL NEWS ELECTION COMMISSION AT 60 After overseeing 15 general elections to the Lok Sabha, the Election Commission of India, in its diamond jubilee year, can with justifiable pride claim to have nursed and st rengthened the electoral processes of a nascent democracy. The successes have not been consiste nt or uniform, but over the last six decades the ECI managed to make the worlds largest democratic p rocess freer and fairer. One of the instruments of this success is surely the Model Code of C onduct. D esigned to offer a level playing field to all political parties, it has been used to neu tralise many of the inherent advantages of a ruling party in an election. Although the model code wa s originally based on political consensus and does not still enjoy statutory sanction, it served as a handy tool for placing curbs on the abuse of the official machinery for campaigning. While ther e have been complaints of excess in the sometimes mindless application of the model code, th e benefits have generally outweighed the costs. After the Election Commission was made a three-member body, its functioning beca me more institutionalised and more transparent with little room for the caprices of an o verbearing personality. The diamond jubilee is also an occasion for the ECI to look at the challenges ah ead, especially those relating to criminalisation of politics and use of money power in elections. Neither of these issues is new. What is clear is that the efforts of the Commission to t ackle them have generally lacked conviction and have not yielded any significant results.
    [Show full text]
  • Reportable in the High Court of Judicature at Bombay
    WWW.LIVELAW.IN Board of Control for Cricket in India vs Deccan Chronicle Holding Ltd CARBPL-4466-20-J.docx GP A/W AGK & SSM REPORTABLE IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION COMM ARBITRATION PETITION (L) NO. 4466 OF 2020 Board of Control for Cricket in India, a society registered under the Tamil Nadu Societies Registration Act 1975 and having its head office at Cricket Centre, Wankhede Stadium, Mumbai 400 020 … Petitioner ~ versus ~ Deccan Chronicle Holdings Ltd, a company incorporated under the Companies Act 1956 and having its registered office at 36, Sarojini Devi Road, Secunderabad, Andhra Pradesh … Respondent appearances Mr Tushar Mehta, Solicitor General, with FOR THE PETITIONER Samrat Sen, Kanu Agrawal, Indranil “BCCI” Deshmukh, Adarsh Saxena, Ms R Shah and Kartik Prasad, Advocates i/b Cyril Amarchand Mangaldas Page 1 of 176 16th June 2021 ::: Uploaded on - 16/06/2021 ::: Downloaded on - 16/06/2021 17:38:08 ::: WWW.LIVELAW.IN Board of Control for Cricket in India vs Deccan Chronicle Holding Ltd CARBPL-4466-20-J.docx Mr Haresh Jagtiani, Senior Advocate, with Mr Navroz Seervai, Senior Advocate, FOR THE RESPONDENT Mr Sharan Jagtiani, Senior Advocate, “DCHL” Yashpal Jain, Suprabh Jain, Ankit Pandey, Ms Rishika Harish & Ms Bhumika Chulani, Advocates i/b Yashpal Jain CORAM : GS Patel, J JUDGMENT RESERVED ON : 12th January 2021 JUDGMENT PRONOUNCED ON : 16th June 2021 JUDGMENT: OUTLINE OF CONTENTS This judgment is arranged in the following parts. A. INTRODUCTION ........................................................................ 4 B. THE CHALLENGE IN BRIEF; SUMMARY OF CONCLUSIONS................................................ 6 C. THE AMBIT OF SECTION 34 .................................................
    [Show full text]
  • Deccan Chronicle Holdings Limited Andhra Bhoomi Daily (Telugu) All A
    Deccan Chronicle Holdings Limited Andhra Bhoomi Daily (Telugu) All A. P. Editions 1,945.00 2,365.00 3,480.00 2,290.00 4,220.00 36, S.D. Road, Secunderabad - 500 003. Ph: 27803930 Fax: 27805207 Individual editions 700.00 1,400.00 1,890.00 1,720.00 2,290.00 Deccan Chronicle Financial Chronicle Printed from Hyderabad, Chennai, Bangalore, Coimbatore, Kochi, Printed from Mumbai, Delhi, Chennai GUARANTEED PAGE & POSITION PREMIUM Trivandrum, Kozikhode, Vijayawada, Visakhapatnam, Rajahmundry, Bangalore & Hyderabad PAGE 3 30% EXTRA ON RESPECTIVE RATES Ananthapur, Karimnagar & Nellore PAGE 5 25% EXTRA ON RESPECTIVE RATES The Asian Age Andhra Bhoomi PAGE 3 TOP OF COLUMN 30% + 25% EXTRA ON RESPECTIVE RATES Printed from New Delhi, Mumbai, Kolkata & London Printed from Hyderabad,Vijayawada,Visakhapatnam, ANY SPECIFIED PAGE 25% EXTRA ON RESPECTIVE RATES Rajahmundry, Ananthapur, Karimnagar & Nellore ANY SPECIFIED PAGE & POSITION 40% EXTRA ON RESPECTIVE RATES (OTHERTHAN PAGE 3 & 5) Revised Advertisement Rates Effective from 4th August , 2014 (Rates per sq cms) GUARANTEED SOLUS ON FRONT PAGE 25% EXTRA ON 16CM X 25 CM Inside Inside Front Back Navigator (MIN. 16CM X 25 CM) B&W Colour Page (Clr) Page (Clr) CANCELLATION / POSTPONEMENT CHARGES Display / Tender / Political / Financial / Notice Rs. Rs. Rs. Rs. Rs. DECCAN CHRONICLE Time of cancellation / Postponement Premium Non Premium DC Group- DC+FC+AB+TAA- All Editions 9,940.00 12,420.00 24,840.00 16,490.00 29,800.00 position position DC + TAA All editions 7,450.00 9,360.00 18,720.00 13,670.00 25,670.00 72 hours in advance of printing time 20% - DC+AB All Editions 7,700.00 9,275.00 18,550.00 12,250.00 22,600.00 48 hours in advance of printing time 35% 10% DC + FC- Bangalore+Chennai+ Hyderabad 5,300.00 6,625.00 13,250.00 9,360.00 10,760.00 24 hours in advance of printing time 50% 20% DC All Editions 5,880.00 7,285.00 14,570.00 10,240.00 18,870.00 DC Blr + Chn+ Hyd.
    [Show full text]
  • BMJ in the News Is a Weekly Digest of BMJ Stories, Plus Any Other News
    BMJ in the News is a weekly digest of BMJ stories, plus any other news about the company that has appeared in the national and a selection of English-speaking international ​ media. ​ This week’s (13-17 Mar) highlights include: PACK South Africa nurses step in to fill hospital shortages - Aljazeera (South Africa) 13/03/2017 ​ ​ The BMJ Awards Doctor assistant role up for national award - Argus (Brighton), 13/03/2017 ​ ​ Shortlist for suicide campaign group [link unavailable] - St Austell Voice 13/03/2017 ​ ​ ​ Bath Street Health and Wellbeing Centre paediatric acute response team shortlisted for two awards - Warrington Guardian 18/03/2017 ​ ​ The BMJ Research: Combining opioids with anti-anxiety medicines linked to greater risk of ​ overdose Taking prescription painkillers and sleeping pills at the same time increases your chance of an overdose - Daily Mail 15/03/2017 ​ ​ People using painkillers are putting their lives at risk by taking sleeping pills, researchers warn - The Mirror 14/03/2017 ​ Opioid overdose risk rises with use of anti-anxiety drugs, study finds - Canadian ​ Broadcasting Corporation (CBC) 14/03/2017 Also covered by: Huffington Post, OnMedica, Medscape, New Mail (Nigeria), ​ Scienceblog.com Research: Better air quality standards in China could save 3 million early deaths each ​ year Cleaner air could save 3 million early deaths in China each year - Reuters Health ​ 15/03/2017 Cleaner air could save 3 million early deaths in China each year - News International ​ ​ 15/03/201 Also covered by: Daily Mail, Hong Kong Standard, The Straits Times (Singapore), The ​ Nation, eco-business.com, South China Morning Post (China).
    [Show full text]
  • Markets Today Key Overnight Developments Must Know…
    15 October 2012 MARKETS TODAY WORLD INDICES & INDIAN ADRs (US$) 12-Oct-12 Domestic equities are seen opening down today amid weak cues from Latest Points % Chg. overseas markets, though Sept inflation data, due at around 1100 IST, will NIKKEI 225 * 8535.7 1.6 0.0 lend more cues to investors. Also, corporate earnings release will keep action HANG SENG * 21099.3 (37.1) (0.2) stock-specific. Resistance is seen at 5692 levels & support is seen at 5649 DOWJONES 13328.9 2.5 0.0 NASDAQ 3044.1 (5.3) (0.2) levels. Result Watch: Axis Bank, Reliance Industries. Data Watch: India WPI SGX NIFTY FUT* 5677.0 (17.0) (0.3) inflation data for Sept. INFY 44.5 (3.7) (7.6) KEY OVERNIGHT DEVELOPMENTS HDFC BANK 37.5 (0.3) (0.7) Wall street ended down Fri, erasing intraday losses, as renewed Eurozone ICICI BANK 39.5 (0.6) (1.4) TATA MOTORS 25.6 (0.2) (0.6) concerns overshadowed strong Oct consumer confidence data. Most Asian WIPRO 8.6 (0.1) (1.0) indices fell today on cautious investor sentiment ahead of an European Union TATA COMM. 9.5 0.0 0.4 summit in Brussels, where Greece will seek to justify more aid and Spain will * At 08:20 a.m. IST on 15-Oct-12 hold out on seeking a bailout. Gold shed 0.7% to close at $1754.50 per ounce. Crude oil shed 0.2% to close at $91.90 per barrel. MUST KNOW…. India's annual inflation rate based on the new Consumer Price Index EQUITY 12-Oct-12 (Combined) eased to a six-month-low of 9.73% in Sept from 10.03% a Latest 1 Day P/E* P/B* SENSEX 18,675.2 0.2 16.0 2.7 month ago.
    [Show full text]