Jayaram Chigurupati, Director Coastal Bank and MD, Express TV (a Telugu channel) was found dead in a car parked on a Highway near Aitavaram village late on Thursday night.
The deceased has been found with a head injury, the police said.
The probe authorities are yet to ascertain whether it was an accidental death or a murder. They have collected all the CCTV footages of Jayaram's car from several toll gates for carrying out the probe.
Chigurupati was arrested in January last year on the charge of non-payment of salaries to employees.
He was accused of non-payment of salaries/compensation amounts to the removed employees as per the agreement between them. He was allegedly involved in other cases which were being investigated by the CID of Telangana Police.
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