TV9 ex-CEO Ravi Prakash booked by ED!

The Enforcement Directorate (ED) has registered a case against former CEO of TV9 Ravi Prakash.

He was booked under PMLA Act (Prevention of Money Laundering Act) on charges of withdrawing Rs 18 crore from the bank accounts of Associated Broadcasting Company Pvt Ltd (ABCL), which owned TV9, when Raviprakash was CEO.

Later, TV9 was taken over by Alanda Media and Entertainment Pvt Ltd in August 2018 and Ravi Prakash was sacked as CEO.

The new management which verified the accounts of ABCL found that Ravi Prakash had fraudulently withdrawn Rs 18 crore between September 2018 and May 2019 and lodged a police case against him.

Ravi Prakash was arrested and sent to Chanchalguda jail. Later he secured bail from the High Court and came out of the jail.