CBI sleuths arrest Deccan Chronicle MD Venkatram Reddy

Hyderabad, Feb 14: A team of CBI officials from Bengaluru arrested Deccan Chronicle Managing Director Venkatram Reddy in the garden city and after grilling him and his brother Ravi Reddy he was brought a short while ago to Hyderabad on Saturday. Canara Bank of Bengaluru had filed a case against Venkatram Reddy as he had not paid his dues on debts in a timely manner. As a result, the bank claimed that it incurred a loss of Rs. 357 crore. Based on the complaint, CBI after investigations confirmed that Venkatram Reddy committed the bank fraud. In Hyderabad, the CBI officials took him to the Special CBI court on Saturday evening along with his brother Ravi and other top officials of Deccan Chronicle Holdings Ltd. The CBI registered cases against the accused under sections 120-B read with 420, 468 and 471 of the IPC.