Krushi Bank Chairman remanded police custody

Hyderabad, July 2 (UNI) Krushi Bank Chairman K Venkatwara Rao, charged in the sensational multi-crore-scam, was remanded to police custody today.

As per the Metropolitan Sessions Judge S Bhujanga Rao's directions, the Crime Investigation Department (CID) personnel took Mr Rao into their custody for five days. Earlier, he was brought to the city from Bangkok on June 27 and was remanded to judicial custody till July 11. The CID police today took him from Chanchalguda jail.

The Judge had granted CID five days police custody of Mr Rao on July one. The court directed the CID to take him into the custody on July 2 and to produce him before the court on July 7.

During arguments, CID counsel sought police custody of Mr Rao for 10 days. The CID had already recovered property worth Rs 19 lakh belonging to him and his family members.

The police were trying to open the electronic chest in a security firm, where Mr Rao was said to have kept some important documents.

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