Hyderabad Police on Saturday arrested Ravi Prakash, former CEO of multilingual television news channel TV9, for alleged cheating by diverting company funds.
The police also took former Chief Financial Officer M.K.V.N. Murthy into custody. They were taken to Banjara Hills police station where they were being questioned.
The arrests were made after two cases were registered against them on a complaint by Alanda Media & Entertainment Pvt Ltd, which owns TV9 group of channels. The management alleged in their complaint that Ravi Prakash and Murthy withdrew Rs 18.31 crore from the bank accounts of the company from September 2018 to May 2019.
They allegedly withdrew the money without the permission of other directors of the company and claimed it to be their bonus. Another case was registered against them for selling TV9 logo. They were charged with cheating and criminal breach of trust.
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