Deccan Chronicle - what is the news!

I am very puzzled with Deccan Chronicle:

• The promoters have been accused of massive fraud. One is on bail the other is in jail
• However, the newspaper operations continue absolutely unhindered. They are able to maintain decent circulation; they have large advertiser base and are able to get premium rates from them
• ICICI Bank; Religare; SREI Infrastructure finance are investors (or "forced investors" with debt getting converted to equity). Infact SREI got an allotment of 66 million shares at Rs. 3.18 per share in January 2015. Though they are large shareholders - and that too leading private not passive public sector institutions and their money is at stake - they are not taking any "apparent" interest in forming a consortium/effecting a management change. I mean are they bothered about their investment
• They have not declared results from March -14; more than 5 quarters. No chance of declaring results for Q1 FY 16 as well
• Stock got suspended from NSE and will get suspended from BSE as well- may be in next couple of weeks for non-disclosure. However, from last 6 weeks it opens and gets locked at UC (5%) on thin volumes. Somebody wants to buy; fully knowing that this is going to get de-listed anytime - WHY?
• So whats happening here. Apparently a decent operating asset with "no owners". What will be the end game here and when! Anybody wants to share there perspective - specially folks from Hyderabad

 

It could be an operator play.With the factors that you have written anyone with a sane mind wouldn't even think of investing.