Following the orders of the Telangana High Court, Kukatpally court has granted bail for former TV9 CEO Raviprakash. The court asked Raviprakash a Personal Bond and two sureties of 15,000 each. The petition filed by the Police to send him to their custody in the fund's diversion case that took place during his tenure as CEO.
Raviprakash was arrested by the cops in the funds' diversion case for transferring almost Rs 18.31 crore as a bonus amount to Clifford Pereira, director of a company without informing the management of the TV9.
From the time, Alanda Media brought more than 90.54% stakes in Associated Broadcasting Company Private Limited (ABCPL), the parental company of TV9. Raviprakash alleged earlier that the new management has taken over the Channel with the support of TRS chief KCR.