Venkattram Reddy who is the chairman of Deccan Chronicle Holdings Ltd (DCHL), was arrested by a team of the Central Bureau Investigation (CBI) on the cause of loan fraud today evening in Hyderabad.
With reference to the reports , the Banking Security and Fraud Cell belonged CBI from Bangalore landed in Hyderabad on Saturday morning and started to enquire about Venkattram Reddy on the fraud charges at the CBI local headquarters at Koti.
To continue, at about 5 pm, the CBI formally arrested the DCHL chairman. He was then taken in the CBI vehicle to Osmania General Hospital before being produced before a magistrate.
DCHL and its chairman are facing several cases lodged by financial institutions from whom the company took loans.