BanjaraHills Police registered criminal cases against TV9 RaviPrakash

The BanjaraHills Police on Thursday registered criminal cases against TV9 former CEO V Ravi Prakash, CFO MVKN Murthy and Hari Kiran Chereddi under sections 467, 420, 409, 406 IPC and 120 (B) IPC. According to R Kalinga Rao, SHO, BanjaraHills Police Station, they have received a complaint against them on Thursday afternoon by P Kaushik Rao, Director for Associated Broadcasting Company Private Limited alleging cheating, criminal breach of trust and causing wrongful loss to ABCL and it's shareholders.

He further alleged that the two persons Ravi Prakash and MVKN Murthy being the Directors of the company having felt that they were going to lose control over the Board of the company, created and executed a Deed of Assignment on December 31, 2018 allegedly transferring the copy rights and registered trade mark no. 16036317, TV9 of the company and other trade marks of the company in favour of Media NXT India Private Limited in which Hari Kiran is having vested interest for a alleged consideration of Rs 99,000. 

Kaushik Rao alleged in his complaint that on verification of the records they found that the alleged payment of Rs 99,000 was made by Media NXT India Private Limited to ABCL for other repairs and maintenance expenses on January 22, 2019 and recorded in the books on February 28, 2019. 

He alleged that the said payment was wrongfully shown as consideration for the trademarks and copy rights. Based on the complaint police registered the cases and are investigating.
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