Deccan Chronicle vice chairman arrested in bank loan fraud case


Bhubaneswar, June 6: Commissionerate police arrested PK Iyer, vice chairman of Deccan Chronicle, in connection with a bank loan fraud case. He was arrested from a star hotel in Bhubaneswar this morning.

Police said, Iyer was staying in the hotel on a fake identity. He was handed over to CBI for further action.

Iyer is allegedly involved with a load fraud to the tune of Rs 350 crore. He is accused of getting corporate loans by submitting false financial statements in 2009-11.

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