Hyderabad: TV9 former CEO V Ravi Prakash who was arrested by Banjara hills police of Hyderabad, was produced before the III additional Chief Metropolitan Magistrate Court late on Saturday night. The magistrate ordered a fourteen judicial remand to Ravi Prakash till October 18.
Meanwhile, Ravi Prakash also moved a bail petition before the court seeking bail in the case. The magistrate posted the hearing on the bail petition to October 9, Wednesday.
On Saturday morning, he was picked up for questioning in connection with the misappropriation of funds and diverting the same into his accounts from TV9 accounts, while he was holding the office.
A case was registered against Ravi Prakash and his associate MKVN Murthy on charges of allegedly siphoning Rs 18 crore funds into their accounts, without any approval from the board of directors or the share holders. After primary investigation confirmed his role, he was arrested officially.