Deccan Chronicle chairman arrested for bank fraud

T Venkattram Reddy, chairman of Deccan Chronicle Holdings Ltd. (DCHL) has been arrested by the Central Bureau of Investigation on charges of loan fraud. Sources say the CBI team of the Banking Security and Fraud Cell of Bangalore went to Hyderabad and questioned Reddy on the fraud charges at the CBI local headquarters. They later formally arrested Reddy and he was taken to Osmania General Hospital before being produced before a magistrate at his residence in Secunderabad. Both DCHL and Reddy are facing several charges of fraud and criminal conspiracy filed by financial institutions from whom the company took loans.