It is known that Ravi Prakash was arrested for allegedly siphoning off over Rs 18.31 crore belonging to Associated Broadcasting Company Limited (ABCL) while he was serving as the CEO of TV9. Alandha Media which holds major stake in ABCL accused the Former CEO of pocketing the funds without the approval of either Directors or Shareholders. He was charged for diverting the funds of TV9 to his bank account. A case was filed under Sections 409, 418 and 420 of the Indian Penal Code.
After the arrest, Ravi Prakash was produced in the court. He was taken to Chanchalguda Jail by 10 pm on Saturday after the court remanded him till October 18th. That’s how he became an under-trail prisoner (Khaidi No. 4412) and was lodged in the Krishna Barrack.
As per sources, The former TV9 CEO hadn’t slept properly on Saturday night. May be, He was unable to digest the drastic fall in the past few months. On Sunday morning, Ravi Prakash was served Kichidi as Breakfast. He, however, left the remaining after eating some part of it.
Bail Petition of Ravi Prakash will come up for hearing on October 9th. He will be hoping to get the much needed relief on Wednesday.
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