Remand for Bank accused extended till July 25

Hyderabad, July 11 (UNI) In the sensational multi-crore scam of Krushi Bank, Nampally Metropolitan Sessions Court today extended the judicial remand of Bank Chairman K Venkateshwar Rao until July 25.

Mr Rao, allegedly implicated in a bank fraud case, was brought here from Bangkok on June 27. The CID had taken him into custody on July two. He was in police custody till July seven. Mr Rao was remanded to judicial custody untill July 11.

Since the remand period expired today, he was produced before the court. His judicial remand was extended till July 25.

Talking to media while coming out of the Court, Rao said he had to flee to Bangkok, five years ago, following threats from Charminar Cooperative Bank Chairman and his associates regarding the Charminar Bank's money deposited in Krushi Bank.

Asked about depositors money in Krushi Bank, Rao said more than Rs 30 crore was deposited in the bank and was safe. He said, he left Bangkok leaving all the money here.

''I will return the money to depositors by selling my properties and assets. If not, I can also transfer my properties to their name'', he promised.

Complying with the court order, Mr Rao would go through a lie-detector test on July 12 and 13, by the police with the help of forencic experts.

UNI ASJ JJ SY ND1942