Former chairman and promoter of Deccan Chronicle Holdings Limited (DCHL) T. Venkattram Reddy, his former director P.K. Iyer and auditor Mani Oommen were arrested by the Enforcement Directorate under provisions of the Prevention of Money Laundering Act in Hyderabad on Wednesday.
The trio was seen leaving the ED’s office at Basheerbagh in a police vehicle. Later in the day, they were escorted by officials to Gandhi Hospital, Secunderabad, for medical tests, for later producing them before the special Prevention of Money Laundering Act court in Nampally.
The former promoters, the central agencies in its earlier notes said, had defrauded banks, defaulted loans taken from various lenders and were involved in money laundering.
