Deccan Chronicle directors surrender in court, get bail
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Two directors of Deccan Chronicle Holdings (DCHL), including the chairman T Venkattram Reddy, surrendered before a civil judge here on Friday. Both were granted bail on a surety of Rs 20 lakh each.
Warrants were issued against all directors of DCHL, including T Venkattram Reddy, vice-chairman and MD T Vinayak Ravi Reddy, vice-chairman and authorised signatory P K Iyer, directors Menakuru Sukumar Reddy, Karthik Iyer Parasuraman, Pendyal Siddhartha and Venkaparamani Suresh in a cheque-bounce case filed by Religare Finvest.
The court had granted non-bailable warrants against all directors till they appeared in person.
DCHL 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 Finvest. The cheques bounced and subsequently an FIR and a criminal case under Section 138 were filed.