Rajiv Ranjan Singh and G Krishna Hari were produced before the court and sent to judicial remand.
Rajiv Ranjan Singh, Chief Executive Officer and G. Krishna Hari Chief Financial Officer of Karvy were arrested basing on a complaint by IndusInd bank.
KSBL defrauds bank of Rs 563 cr; Police seek Parthasarathy’s custody; Case transferred to Economic Offences Wing of Cyberabad
The 35-odd Karvy group companies together owe more than Rs 4,800 crore to banks and financial institutions.
He was arrested following a complaint lodged by IndusInd Bank that he had defaulted on a huge loan he had raised from the bank