Kalanikethan MD aressted

Hyderabad, July 13: Kalanikethan - a famous name in the textile Industry and had many of its branches throughout the Telugu states. Here is the news that the managing director of Kalanikethan, Mr. Leela Kumar have been arrested today in the morning.

He is now in the custody of Central Crime Station.

In accordance with the information from the Police officials, the accused had duped the bank's worth Rs. 98 Cr. It is said that the accused had debited the loan of Rs.98 Cr from the Cosmos Bank with the assurance of their director's property.

He then defaulted the banks by selling those properties. Finally, the police have nabbed the criminal after the banks have complained.

And now the case has been booked on him and the further investigation process is going on.