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CBI arrests Deccan Chronicle chairman Venkatram Reddy

  •   Sat, Feb 14 2015 10:29:18 PM

New Delhi, Feb 14 (PTI): The Chairman of a Hyderabad-based English daily Deccan Chronicle T Venkatram Reddy was today arrested by CBI in connection with alleged default of Rs 357 crore loan from Canara Bank.

CBI sources said the arrest was in connection with a case registered by it against the company Deccan Chronicle Holdings Limited in July 2013 on the basis of a complaint from Canara Bank, Bangalore.

The agency had registered a case of alleged cheating and criminal conspiracy against Venkatram Reddy in 2013. The Bank had refused to restructure the loan taken by the company that had remained unpaid.

Reddy was taken into custody by a CBI team from Bangalore after a brief questioning, sources said.

Vice Chairman and Managing Director of the company T Vinayak Ravi Reddy has also been arrested, CBI sources said.
  

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Comment on this article

  • yogesh, bombay

    Mon, Feb 16 2015

    Cheap journalism and cheap mgmnt no doubt...dubious dealings

    DisAgree Agree [3] Reply Report Abuse

  • Ashok, Mangalore

    Sun, Feb 15 2015

    Hope it is not a case like Satyam. They have a huge pile of loan in their books and it can't be justified for a Publishing/Printing co. doing a turnover of 300 odd crores. There is serious corporate governance issues with all Andhra based companies.

    DisAgree Agree [4] Reply Report Abuse

  • Ravi B Shenava, Mangaluru

    Sun, Feb 15 2015

    When I was posted in Hyderabad between 2001 t0 2005 I had seen that Deccan Chronicle was number one English News paper of Hyderabad & A.P and even The Hindu or TOI could not compete with it due to very high standard of D.C. But later on they diversified to Chennai and Bengaluru Editions and also took over Asian Age of M J Akbar which was a mill stone around their neck. IPL cricket eroded their networth completely. Besides they tried to diversify into Airlines Real Estate and films and other field for which they borrowed heavily and lost heavily. This D C group was also staunch supporters of Congress party because of which they were not getting sufficient Govt Ads during the regime of non-cong Govts in A.P. Their company share which was more than Rs.100/- per share few years ago has now reached below Rs.2/- destroying the life of many investors. Every thing is because of too much greed and lack of far sight.

    DisAgree Agree [11] Reply Report Abuse

  • ISMAIL K PERINJE, PERINJE

    Sun, Feb 15 2015

    Why these Reddys are corrupt?How could default such a massive amount to the public institution.Born to cheat?

    DisAgree [1] Agree [10] Reply Report Abuse

  • Jacob Mendonsa, Bangalore

    Sun, Feb 15 2015

    Ismail,

    One Reddy completely cleaned our mines.At this rate our Politicians & business men looted our Country much much more than Britishers. But these Britishers gave us well organised Railway net Works, Roads, Bridges & Highways etc. Our Corrupt people swindling without contributing much to the Country.

    DisAgree Agree [4] Reply Report Abuse

  • Lawrence, USA

    Sun, Feb 15 2015

    Any arrests of person who approved the loan?

    DisAgree [1] Agree [7] Reply Report Abuse

  • Suleman Byari, Udupi

    Sun, Feb 15 2015

    All Reddys are looting Karnataka and shall be banned from the state.

    DisAgree [1] Agree [7] Reply Report Abuse

  • Jacob Mendonsa, Bangalore

    Sun, Feb 15 2015

    Suleman,

    There r a lot of Reddys in Bangalore. Many of them high ranking officers in Police department & also in the state Ministry. I don't understand why we should give them lot of importance & Posts in our state. Are we short of well qualified Kannadigas.

    DisAgree Agree [2] Reply Report Abuse

  • Vellano1, Mumbai

    Sat, Feb 14 2015

    haha..Deccan chargers, now will be Tihar charger! :D I like his daughter gayatri... vhe vhe vhe

    DisAgree Agree [2] Reply Report Abuse

  • Dr S Kamath, Mumbai

    Sat, Feb 14 2015

    IPL sponsoring made many Crore pathies into Road pathies

    DisAgree Agree [3] Reply Report Abuse

  • Ronald D, Udupi

    Sat, Feb 14 2015

    Big people cheat big waY! Small people to the tune of small amount and anticipate waiver!!

    DisAgree Agree [4] Reply Report Abuse


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