State Bank of Hyderabad has filed a petition in the Andhra Pradesh High Court seeking liquidation of Deccan Chronicle Holdings Ltd (DCHL) to recover the Rs 50-crore loan it extended to the company.
SBH had extended a corporate loan to DCHL in 2011 with a repayment tenure of one year.
As the company defaulted, the bank served a demand notice and also approached the debt recovery tribunal.
However, as these did not yield any results, SBH filed a petition in the High Court for recovery of Rs 53.75 crore.
After serving a notice to DCHL to respond, the court posted the case for next hearing on December 9, 2013.