Hyderabad: TV9 former CEO Ravi Prakash was granted anticipatory bail by the High Court in connection with a case filed by Enforcement Directorate. The court expressed displeasure over several cases being filed against Ravi Prakash on a single issue. Granting the conditional bail to Ravi Prakash, the court directed not to arrest the TV9 former CEO while the investigation is going on.
The officials of Enforcement Directorate (ED) booked a case against Ravi Prakash earlier this month under the Prevention of Money Laundering Act (PMLA). Based on the FIR filed by the Cyberabad police on the alleged Rs 18 crore fraud, the enforcement case information report (ECIR) has been issued. However, Ravi Prakash approached the High Court to grant him bail in the ED case preventing his arrest.
Besides giving the bail, the court asked for two sureties of Rs one lakh each and also directed him to appear before the ED officials on every Saturday. Earlier, Ravi Prakash had been arrested by the Banjara Hills police in October last year on the allegations of fraudulently withdrawing Rs 18 crore from Associated Broadcasting Company Private Limited (ABCPL).