Former Deccan Chronicle chairman Venkatrami Reddy arrested

Hyderabad: The former chairman of Deccan Chronicle (DC), Venkatrami Reddy, has been arrested by the Enforcement Directorate (ED) in connection with a bank fraud and money laundering case. The arrest is part of the crackdown on the promoters and former directors of Deccan Chronicle Holdings Limited (DCHL), along with other individuals detained in the investigation. They will appear before a special court in Hyderabad under the Prevention of Money Laundering Act (PMLA). Canara Bank and IDBI Bank are alleged to have been defrauded of around Rs. 1,500 crores. The ED has also attached assets worth Rs. 3,300 crores belonging to Venkatrami Reddy, including properties in multiple cities.