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
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
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.
