Three held in Telugu Akademi case
The Hindu
UBI bank manager and two others likely to be arrested soon
Chairman and Managing Director of A.P. Mercantile Cooperative Credit Society Ltd., (APMCCS) Vijayawada, and his two senior employees were arrested by the Hyderabad Central Crime Station police on Friday in connection with the alleged financial fraud in the Telugu Akademi fixed deposits accounts.
The accused and society C&MD B.V.V.N. Satyanarayana Rao, manager (operations) Vedula Padmavathi and relationship manager Sayyad Mohiuddin were remanded in judicial custody, Joint Commissioner of Police (Detective Department) Avinash Mohanty said.
While Rao was arrested in Vijayawada, where the society’s operations are active, the other two were taken into custody from the city.
With the clock ticking down to the Lok Sabha election counting day on Tuesday, opposing fronts are perceptibly edgy and poised to continue the rancorous skirmishing that marked the campaign season in Kerala. The United Democratic Front, led by the Congress, is seemingly basking in the “interim victory” granted by various exit polls. The UDF discerns that its poll strategy of turning the polls foremostly into a damning referendum on the Left Democratic Front government’s perceived failures rather than BJP’s “divisive politics” at the national level stood a fighting chance of paying off.