T venkattram reddy biography of martin

Directorate of Enforcement ED has arrested T. Venkattram Reddy, P. PMLA investigation revealed that T. DCHL availed credit facilities from 16 public sector and private banks to the tune of Rs. However, these loans were taken by DCHL on the basis of fabricated books of accounts and the company did not disclose its correct loan liabilities to the banks.

The Enforcement Directorate (ED) on Wednesday arrested T Venkattram Reddy, former chairman, and promoter of Deccan Chronicle Holdings Limited (DCHL), along with the Missing: martin.

The loan funds were diverted and siphoned off by the promoters of the company in several ways and for various purposes, including: i. Diversion of new loans for repayment of existing loans. Purchase of a private aircraft by T. Venkattram Reddy and purchase of a fleet of high-end cars worth more than Rs. Declaring and distributing dividends by showing fictitious profits.

The promoters, who were holding up to two-thirds of the shareholding in the company, pocketed an amount of around Rs. Diversion of Rs. Further investigation is in progress. Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates.