Alandha Media which acquired 90.5 percent stake in ABCL condemned the allegations made by Ravi Prakash. A statement was issued by the firm accusing the former TV9 CEO of making false allegations to divert the case: 'There is no truth in the allegation that Hawala Money was used to buy the TV9 shares. Not even a single rupee was paid in cash. Such false allegations were made by Ravi Prakash to bail out himself from the case'.
Earlier, Ravi Prakash alleged Rs 60 crore have been diverted from Mauritius against the FEMA norms when TV9 was established. He went on say Hawala Money was used to buy the stake in TV9, just alike terrorist funding happens in Kashmir. The Ex-Boss of TV9 claimed to have brought these things to the notice of CBI and Enforcement Directorate seeking investigation. He added, Ever since then Telangana Government kept troubling Me.
Forgery Case of Ravi Prakash has come up for hearing in High Court on Tuesday. Upon hearing the arguments of both the parties, Next hearing was posted to Tuesday. Orders from High Court will decide whether or not Ravi Prakash will be arrested.