Karvy Stock Broking Ltd filed a police complaint against promoters of Deccan Chronicle Holdings Limited (DCHL). Karvy representatives alleged breach of trust, concealing of actual facts, inducing the company by misrepresentation of information, providing incorrect information to a third party, introducing forged documents in the name of KSBL and acting fraudulently with a deliberate attempt to defraud by DCHL promoters.
Based on the complaint, Hyderabad police had registered a case under Sections 406, 420, 468 and 471 of the CrPC read with section 34 of IPC against DCHL promoters – T Venkattram Reddy, T Vinayak Ravi Reddy and PK Iyer.
It is also learnt that Mumbai based Future Capital Holdings Ltd also is likely to file a police complaint.
Deccan Chronicle Holdings Limited (DCHL) publishes the daily newspapers Deccan Chronicle and The Asian Age. It also owns the IPL team Deccan Chargers.