The DCHL management had last month indicated at liquidity crisis arising due to significant reduction in ad spend by domestic and multinational companies. It had also mentioned about IFCI filing petitions in the debt recovery tribunal and also in the Andhra Pradesh High Court, the latter seeking liquidation of the company for delay in payment of Rs 25 crore. In related developments, Future Capital Holdings Ltd and Religare Finvest Ltd had announced that DCHL promoters had pledged shares. DCHL had raised Rs 170 crore from Future Capital.