Will the Hyderabad’s icon newspaper Deccan chronicle will be shut down soon?The newspaper launched in early 1900 as a freedom fighters weapon against British was clandestinely owned up by few city businessmen but continued as a paper of Congress party in the state .
DC had earned name and fame to Hyerabad with the Deccan Chargers in IPL league. Now it has brought defame for financial fraud as well .The grand old lady of Secunderabad and mascot of Hyderabad flavor of journalism is finally in dock with the CBI registering a case its owners, congress leaders for cheating a public sector bank of Rs.1230 crore with false documents.
The CBI which raided the home and office of the newspaper said a complaint was made by the Canara Bank that due to frauds by the DC owners the bank had incurred a loss of Rs.357.77 crores (approx) as on 08.09.2012. The CBI says that during the period 2009-2011, DC conspired to cheat Canara Bank by submitting false and fabricated financial statements and by suppressing the borrowings taken from other banks on the same documents .
Many of its senior editorials taff have already drifted and the company's assets in city at Kondapur have already been seized.CBI case isthe last straw in DC's kitty of woes.
