CBI carries out searches at Deccan Chronicle offices

CBI carries out searches at Deccan Chronicle offices

The Central Bureau of Investigation (CBI) carried out searches in the offices of Deccan Chronicle here on Monday in connection with a complaint filed by Canara Bank for alleged default in loan repayment.

Following the complaint from Canara Bank against DCHL, alleging default in repayment of loans to the tune of Rs 360 crore, the CBI started its probe against the company and carried out searches at its office in Hyderabad, sources said.

The probe agency began its scrutiny after irregularities in the DCHL balance sheet were found after a forensic audit. The CBI took a closer look at the documents at DCHL’s headquarters on Monday, as the forensic audit threw limited light on these things, as it was very difficult to find the end-use of the funds.

The searches at the Deccan Chronicle Holdings Limited’s Secunderabad office continued for almost three hours.

Besides the absence of loan entries, the forensic audit also pointed out filing of wrong registration certificates, in a bid to take loans by mortgaging the same property with multiple lenders.

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