HYDERABAD: T Venkattram Reddy, chairman of Deccan Chronicle Holdings Ltd (DCHL), was arrested by a team of the Central Bureau Investigation (CBI) on charges of loan fraud on Saturday evening.
According to sources, the CBI team belonging to the Banking Security and Fraud Cell from Bangalore came to Hyderabad orning and began questioning Venkattram Reddy on the fraud charges. Reddy was grilled at the CBI local headquarters at Koti.
Later in the evening, 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 at his residence in Secunderabad. Venkattram Reddy could be either sent to jail or the CBI could seek his custody.