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The Chandigarh police today arrested a former director of Deccan Chronicle Holdings Limited in connection with a cheque bounce case filed against the city-based publishing house by Religare Finvest Ltd.
“He will be produced in a Chandigarh court shortly,” Asish Kapoor, DSP, Central Chandigarh told PTI.
He said the police, which came here to execute the arrest warrant, could not find other members named in the warrant issued by the court.
He said they will submit a report to the court and judiciary will take a decision on the future course of action.
According to information available from the 2012 annual report of DCHL, Sukumar Reddy stepped down from its Board on December 8, 2012.
When contacted, Sukumar Reddy said over phone that he was not arrested and disconnected the call.
According to Religare, Deccan Chronicle had issued two cheques dated July 1, 2012 and another two cheques dated August 1, 2012 amounting to Rs 6 crore in favour of Religare Enterprises Ltd’s lending vertical, Religare Finvest Ltd.
A First Information Report and a case under Negotiable Instruments Act were filed after the cheques bounced.
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