Deccan Chronicle ex-director arrested

The Chandigarh police today arrested the former director of Deccan Chronicle Holdings Limited DCHL,Sukumar Reddy on a complaint by Religare Finvest. Religare had lodged an FIR with Chandigarh police that DCHL had defaulted on the payment of Rs 100 crore.

It stated in its complaint that two cheques of Rs 6 crore issued by Deccan Chronicle Holdings in favour of Religare Finvest had bounced.

The Chandigarh police team arrived with arrest warrants against DCHL chairman T Venkatram Reddy,managing director PK Iyer and Sukumar Reddy. While Venkatram Reddy and Iyer were not in the city,the police arrested Sukumar Reddy.