Live
- Zero voter turnout in 6 Nagaland dists
- PM takes ‘atta’ dig at Pakistan
- Cong outdated: Rajnath
- Anantapur: Give no more chances to Jagan says Chandrababu Naidu
- Congress strategy to outwit BJP in North Telangana
- Festival of Demiocracy: 62% turnout in phase 1
- MyVoice: Views of our readers 20th April 2024
- Is US Prez weighing climate emergency declaration soon
- ‘AP people’ve made up their mind on double engine govt’
- Kakinada: Overwhelmed by Godavari love said CM YS Jagan Mohan Reddy
Hyderabad: Karvy MD Parthasarathy held for evading debts
Karvy MD Parthasarathy
- Karvy MD Parthasarathy arrested for misusing funds
- He obtained Rs 780 crore from various banks by mortgaging Karvy shares
Karvy stock broking managing director Parthasarathy has been arrested by the Central Crime Station (CCS) police for allegedly evading Rs 780 crore debts of several banks.
The CCS police took action after various banks filed complaint against the managing director of Karvy.
It was learned that Parthasarathy obtained loans from various banks by mortgaging Karvy shares. He borrowed Rs 340 crore from HDFC bank, Rs 137 crore from Indus Ind bank and another Rs 7 crore from HDFC bank. The banks in the complaint stated that the loans have been misused by Parthasarathy who was arrested and produced before Nampally court.
Earlier in the day, the enforcement directorate arrested Vuppalapati Satish, managing director of Pruthvi Information Solutions for defrauding banks to the tune of Rs 3,316 crore.
