Orders on CBI plea for DCHL promoters custody Feb 21

Posted on 20th Feb 2015 11:18 am by mohit kumar

Hyderabad, Feb 19 (IANS) A CBI court posted, for Feb 21, its orders on a petition by the CBI for 14 day police custody of the promoters of Deccan ChronicleAHoldings Limited (DCHL).

The court heard arguments on the petition filed by the Central Bureau of Investigation (CBI) and fixed Feb 21 as the date pronouncing the orders.

The CBI Feb 15 arrested DCHL chairman, T. Venkattram Reddy, and managing director T. Vinayaka Ravi Reddy in connection with an alleged loan fraud case.

The Canara Bank had lodged a complaint with the CBI against the company promoters in 2013, after the company defaulted on a loan amounting to over Rs.350 crore.

The CBI counsel explained the need to interrogate the brothers for two weeks to get to the bottom of the case.

The DCHL, which published English daily Deccan Chronicle, argued that the arrests were made in violation of the Supreme Court orders issued earlier.

Meanwhile, the court also admitted for hearing a petition filed by Venkattram Reddy seeking special category status.

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