ED arrests 2 promoters, auditor of DCHL in bank fraud-linked money-laundering case
New Delhi, Jun 14 (PTI) The Enforcement Directorate (ED) arrested two promoters and an auditor of Deccan Chronicle Holdings Limited (DCHL) on Wednesday as part of a money-laundering investigation linked to a bank fraud case.
Those arrested under the provisions of the Prevention of Money Laundering Act (PMLA) include T Venkattram Reddy and P K Iyer, promoters and former directors of DCHL, and Mani Oommen, the statutory auditor of the company.
In a statement, the federal agency said it initiated the money-laundering probe on the basis of multiple FIRs registered by the Central Bureau of Investigation (CBI) and Telangana Police for criminal conspiracy, cheating and forgery by DCHL, its promoters, directors and others, apart from a prosecution complaint filed by the Securities and Exchange Board of India (SEBI) against the firm and others.
