Deccan Chronicle owner arrested by CBI on loan fraud charges
HYDERABAD: Deccan Chronicle chairperson T Venkattram Reddy was arrested in Hyderabad on Saturday by the Central Bureau of Investigation (CBI) on charges of loan fraud.
Sleuths of the banking fraud cell of Bengaluru CBI arrived in the city on Saturday and interrogated Reddy in a case relating to the loans taken from Canara Bank. The CBI later arrested Reddy and his brother and managing director of DCHL, Vinayaka Ravi Reddy. “The case is registered here at the magisterial court and Reddy is produced there. As of now, he would be kept in Hyderabad only,” a senior CBI official of the Hyderabad branch of the probe agency told HT.
The official refused to divulge further on the details as the case is not under their jurisdiction.
But it is understood that the bank had lodged a complaint, after a loan default, in March 2013. Reddy reportedly availed loans aggregating to over `1200 crore from the bank, allegedly producing false asset statements.
Reddy, who runs the Deccan Chronicle group, is under financial stress from some time mainly since his indulgence in the IPL - owning the Hyderabad team Deccan Chargers.
His company Deccan Chronicle Holdings Limited (DCHL) is facing several civil and criminal charges relating to its unsystematic borrowing of funds. PATNA: In a politically sensitive move, the special cabinet led by Bihar chief minister Jitan Ram Manjhi approved a proposal to include the Paswan (Dusadh) caste in the Mahadalit category, ensuring they are now eligible for welfare schemes meant for Scheduled Castes.
Till now, the Paswans were the only SC section to be left out of the Mahadalit ambit — a grouping created by the Nitish Kumar regime — and therefore, were excluded from availing the welfare schemes implemented by the State Mahadalit Commission (SMC).
Established in 2007, the SMC had recommended the inclusion of 18 extremely weak castes as Mahadalits. The Paswans were left out of the list, angering LJP chief Ram Vilas Paswan who had claimed that this move would divide the Dalits.
Manjhi’s move will now bridge the divide between the Dalits and Mahadalits.
Combined, the Dalit might in Bihar now stands at 23% of the total population, which is a huge electoral segment. By combining the Dalits and Mahadalits, Manjhi has built a stronger case for himself as he takes on Nitish Kumar to lay claim for the chief ministerial position.
This latest measure comes on the back of several significant decisions taken by the Manjhi-led government in recent weeks providing greater welfare schemes for the backward.
His cabinet recently gave its nod for free education to girl students up till they finish their post graduation. On Tuesday, a proposal was cleared giving preference to SCs/STs in government contracts worth up to `70 lakh. He has also relaxed the 75% attendance stipulation to 55% for SC/ ST students for the entitlement of school uniforms.