Millennium Post

CBI arrests Deccan Chronicle chairman in bank fraud case

The Chairman of a Hyderabad-based English daily Deccan Chronicle T Venkattram Reddy was on Saturday arrested by the Central Bureau of Investigation in connection with the 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 Reddy in 2013. The Bank had refused to restructure the loan taken by the company that had remained unpaid.
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