Hyderabad: Ex-TV9 CEO Ravi Prakash files for bail

Hyderabad: Requesting the court to direct the TS police not to arrest him, Mr Ravi Prakash, former CEO of TV9 submitted to the court that the TS state was running behind him claiming that he had made a complaint to the CBI and Enforcement Directorate against money laundering in the deal related to takeover of the TV9 group.

The ex-CEO said that  ABCPL had made allegations that the ‘deal’ of purchasing the company was done illegally by violating FEMA rules and the received money was diverted out of the country via a channel which is generally used by militants of Jammu and Kashmir.

Mr Diljit Singh Ahluwalia, counsel for Mr Ravi Prakash, submitted on Monday to the court of Justice Ghandikota Sridevi, who is dealing with the three anticipatory bail petitions by Mr Reddy, that more than Rs 294 crores related to the ‘deal’ was transferred to foreign countries through hawala routes. 90 per cent shares in the media group were sold out for Rs 500 crore, and out of this, Rs 206 crore was paid in the form of cheque and the remaining amount paid in cash as part of a secret deal.

He produced before the court the copy of an email sent by Ravi Prakash to the CBI and ED, complaining of money laundering and said that his client’s troubles had started only after this mail.