The mighty Deccan Chronicle, the mascot of  the lazy and laid back culture of  Hyderabad , or the modern days  Nizam, had  fallen flat  with uncleared debts and  CBI had finally  fore closed all properties of its  40 year old  cantankarous   owner cum chief  editor  T Venkatram Reddy . Insiders say, horse racing,  sports cars, lavish life style , women and  foreign tours  of  company  founder  MD and owner Tikkavarapu  Venkatram Reddy  were the main reasons .

 The offices of the DC and homes of Venkatram Reddy were raided by CBI on complaint of Canara Bank for cheating worth Rs.1230 core and    raising loans with false documents. Venkatram wayward life style  and his  IPL  team Deccan Chargers had ruined the  news paper empire , still giving a run for  the competitors in  Hyderabad .

 Venkatram Reddy entered into various businesses like aviation, horse stud farming, and also IPL franchise and sank huge amounts of borrowed money.All of his sports fancy cars were seized by another Bank. His posh bungalows in London, Delhi, Mumbai and also Sydney were also seized by the banks . So much so that now  even the jewelry , posh ward robe  and apartment sof his wife and daughter were also on the auction platter .

If the courts have their say in the coming week, the son of former CPP secretary  T Chandrasekhar Reddy , a well known  figure in Delhi circles would  be in jail  soon of  bedeclared a pauper . The newspaper he had picked up  for  peanuts had become a  golden goose for  Venkatram Reddy till he ventured into lavish spending.

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