The promoters of Deccan Chronicle Holdings Limited (DCHL), T Venkattram Reddy and T Vinayaka Ravi Reddy, were remanded to judicial custody by the 12th additional chief metropolitan magistrate court on Friday.
The court reverted them to judicial custody as they were produced before the magistrate after the five-day custody with the investigative team of the Central Bureau of Investigation (CBI) ended on Friday.
The court extended the judicial custody of the two accused till March 13, 2015, on the request of CBI counsel M RP Babu, who stated that they would influence the witnesses and the ongoing investigation if freed. "In addition to these grounds, the CBI sought the extension of judicial custody as the third promoter, P K Iyer, was still in hiding," the CBI counsel told Business Standard.
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The counsel for the accused said they will be challenging the judicial custody when the court reconvenes on next Monday. The accused had informed the court that they had withdrawn a petition filed before the Hyderabad high court challenging the arrests.