Deccan Chronicle Vice-Chairman PK Iyer was arrested by police for alleged involvement in multi-hundred crore bank loan fraud.
Since the past few months, PK Iyer has been hiding in a Hyderabad-based five star star hotel on fake identity to escape from CBI which is handling the bank loan scam. Upon collecting a clear information about his whereabouts, City Cops raided the hotel and took Iyer into custody. Later, He was handed over to CBI.
A bank loan fraud case was registered against PK Iyer in Hyderabad and a non-bailable warrant has been issued. He is facing charges of furnishing false financial statements to avail bank loan.
Sometime ago, Even Deccan Chronicle chairman T Venkattram Reddy and MD Ravi Reddy got arrested in connection with the same bank loan scam. They, however, obtained bail from a Hyderabad court later.
Since the past few months, PK Iyer has been hiding in a Hyderabad-based five star star hotel on fake identity to escape from CBI which is handling the bank loan scam. Upon collecting a clear information about his whereabouts, City Cops raided the hotel and took Iyer into custody. Later, He was handed over to CBI.
A bank loan fraud case was registered against PK Iyer in Hyderabad and a non-bailable warrant has been issued. He is facing charges of furnishing false financial statements to avail bank loan.
Sometime ago, Even Deccan Chronicle chairman T Venkattram Reddy and MD Ravi Reddy got arrested in connection with the same bank loan scam. They, however, obtained bail from a Hyderabad court later.