DCHL promoter arrested by Enforcement Directorate
The Hindu
Prevention of Money Laundering Act
The promoter of Deccan Chronicle Holdings Limited T. Venkatarama Reddy has been taken into custody from his home, in Hyderabad, by the Enforcement Directorate (ED) officials on Wednesday morning (June 14.) They were grilled by the ED officials on June 13. Mr. Reddy and auditor Mani Oommen, who also has been arrested, are accused in a money-laundering case.
They are expected to be produced before a special Prevention of Money Laundering Act court in Nampally in the afternoon. More details are awaited.
Earlier in 2020, the ED had attached multiple properties of the promoters located in Hyderabad, Delhi, Gurugram, Chennai and Bengaluru.
DCHL had availed loans from several banks including Canara Bank and Union Bank without disclosing its indebtedness. The Union Bank of India declared the account as a non-performing asset on December 31, 2012. Canara Bank filed a case of fraud with the Central Bureau of Investigation against DCHL after a forensic audit of the firm. Later, the Corporate Insolvency Resolution Process (CIRP) was initiated under the Insolvency and Bankruptcy Code (IBC) against DCHL by Canara Bank.
![](/newspic/picid-1269750-20240610192527.jpg)
Almaya Munnettam (Lay People to the Fore), group in the Ernakulam-Angamaly Archdiocese of the Syro-Malabar Church opposed to the synod-recommended Mass, rejected a circular issued by Major Archbishop Raphael Thattil and apostolic administrator Bosco Puthur on June 9 to implement the unified Mass in the archdiocese from July 3.
![](/newspic/picid-1269750-20240610183344.jpg)
Pakistan coach Gary Kirsten stated that “not so great decision making” contributed to his side’s defeat to India in the Group-A T20 World Cup clash here on Sunday. The batting unit came apart in the chase, after being well placed at 72 for two. With 48 runs needed from eight overs, Pakistan found a way to panic and lose. “Maybe not so great decision making,” Kirsten said at the post-match press conference, when asked to explain the loss.