Indian exchange to suspend trading in Deccan Chronicle shares

Source : REUTERS
Last Updated: Tue, Jan 15, 2013 12:18 hrs

MUMBAI, Jan 15 (Reuters) - The National Stock Exchange said trading of shares in Deccan Chronicle Holdings Ltd would be suspended from Jan. 23, saying the newspaper publisher failed to provide shareholding and financial information.

The NSE said Deccan Chronicle had not provided financial results and information on shareholding patterns as required for listed companies.

The exchange also said Deccan Chronicle had not provided a corporate governance report or a share capital audit report.

Deccan shares plunged 84.5 percent last year as the company struggled to repay debts. The media company was forced to sell an Indian Premier League cricket franchise for various defaults.

NSE also announced trading in shares of IOL Netcom Ltd would also be suspended on Jan. 23 after the company failed to provide financial results. (Reporting by Rafael Nam; Editing by Prateek Chatterjee)

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