Central Bank of India has approached the Debts Recovery Tribunal (DRT) in Hyderabad and urged it to recover Rs 50 crore loan it had given to Deccan Chronicle Holdings Ltd (DCHL) with penal interest.
N Anjaneyulu, the authorised officer of the bank's corporate branch, filed this petition informing the tribunal that the DCHL and its chairman T Venkatram Reddy, vice-chairmen T Vinayak Ravi Reddy and P K Iyer have failed to repay the loan amount despite several reminders. DCHL had availed a working capital loan of Rs 50 crore on September 29, 2011, and its chairman and vice-chairmen stood as personal guarantors for the same and the short term loan was to have been repaid within 364 days, the petitioner said.
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