Hyderabad: The Banjara Hills police on Thursday booked yet another case against TV9’s former CEO V. Ravi Prakash, Director M V K N Murthy and another person Hari Kiran Chereddi for cheating, criminal breach of trust and causing wrongful loss to the Associated Broadcasting Company Private Limited (ABCPL) (TV9) office and its shareholders.
The case was booked against Ravi Prakash and others based on a complaint lodged by the Company Director P. Kaushik Rao. This is the third case that was registered against Ravi Prakash.
The Cyberabad police earlier booked two cases against him and issued three notices asking him to appear before the police. However, Ravi Prakash did not turn up.
In his complaint, Rao said the two persons being the company directors having felt that there were going to lose control over the Board of the company, created and executed a Deed of Assignment dated December 31, 2018 allegedly transferring the copy rights and registered trade mark number 16036317, TV9 of the company and trade marks of the company in favour of Media NXTIndia Private Limited in which Hari Kiran is having vested interest for an alleged consideration of Rs.99,000.
The recitals of the said assignment deed also referred to an alleged oral agreement between them dated May 22, 2018. On verification of records, the alleged payment of Rs.99,000 was made by Media NXT India Private Limited to ABPCL for other repairs and maintenance expenses on January 22, 2019 and recorded in the books on February 28, 2019, Rao said.
The payment was wrongfully shown as consideration for trade marks and copy rights. The two persons transferred the valuable copy rights and trade marks of the company for meagre false consideration against the interest of the company, Rao alleged.
He said the transaction was done without the knowledge of shareholders and new Directors who were appointed through a resolution dated October 23, 2018, which had caused loss to the company apart from being a case of forgery and cheating.