In a sort of relief for V Ravi Prakash, former chief executive officer of popular Telugu television channel TV9, the Telangana high court on Friday granted anticipatory bail to him in connection with a case filed by Enforcement Directorate authorities.
The high court felt that there were too many cases field against Ravi Prakash by different agencies with regard to single issue.
“Let the inquiry go on, but he should not be arrested,” the court said while granting bail.
The ED authorities recently booked a case against Ravi Prakash under the Prevention of Money Laundering Act (PMLA) on the charges of alleged siphoning of funds from the company.
Ravi Prakash challenged this case and moved the high court seeking anticipatory bail.
The ED filed the case following a complaint lodged by the management of Associated Broadcasting Company Limited in October 2019 that he and two of his associated had withdrawn Rs 18 crore from the company unauthorizedly in the name of bonus.
The Banjara Hills police had already booked a case in this regard and arrested Ravi Prakash.
The company had alleged that two others had fraudulently withdrawn money from the company between September 2018 and May 2019.
Based on this FIR, the ED has also registered a case and is likely to issue summons.