Hyderabad: Banjara Hills police filed a petition before the III Additional Chief Metropolitan Magistrate at Nampally, seeking custody of former TV9 CEO V Ravi Prakash. They sought ten-day custody of the accused, for further investigations into the case. Banjara Hills police arrested V Ravi Prakash, on Saturday, in connection with a case of alleged cheating and diversion of funds to the tune of Rs 18 crore from TV9 into his accounts. He had allegedly done this while he was holding office. The court had posted the hearing on the petition to Thursday.
On Friday, Alanda Media group, which took over TV9 from Associated Broadcasting Company Private Limited (ABCL), lodged a complaint alleging that Ravi Prakash along with his associate MKVN Murthy withdrew around Rs 18 crore between September 2018 and May 2019 as a bonus to themselves.
During the verification of records and account statements since June 2019 by the new board of directors, they found that Ravi and Murthy along with Clifford Pereira withdrew huge sums from the company’s accounts and diverted them into their personal accounts. Ravi is currently lodged at Chanchalguda Central prison.