HYDERABAD:The Hyderabad High Court on Thursday directed DCHL chairman T Venkattram Reddy and vice-chairman T Vinayak Ravi Reddy to file their counter affdavits in petitions filed by the CBI seeking cancellation of bail granted to them.
Justice MSK Jaiswal was dealing with two petitions filed by the CBI for cancellation of bail granted to them by the trial court.
On Feb 14 this year, both were arrested by the CBI for allegedly defaulting on loans obtained through false documents after a complaint by the Canara Bank. Both are accused in the case registered by the Bank Security and Fraud Cell (BSFC) of the CBI.
Last month, the lower court granted statutory bail to both Venkattram Reddy and Vinayak Ravi Reddy, promoters of Deccan Chronicle Holdings Limited (DCHL). Recently, Venkattram Reddy was arrested by the Delhi police for allegedly thrashing and threatening a person who had exposed an alleged loan fraud case in which Reddy was arrested.
Producing the copy of FIR lodged in Delhi before the High Court, the counsel for the CBI sought cancellation of bail to the accused on the ground that the investigation is in progress. If the accused were enlarged on bail there is every possibility of influencing the witnesses and tampering of the evidence in the case. Already, the Delhi police has booked a case against the accused for allegedly threatening a witness, he pointed out.
The judge granted time to the accused for responding to these allegations and adjourned the case to May 21.