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Krushi official remanded to police custody till Sept 5

Syed Amin Jafri in Hyderabad

P Ramamurthy, one of the former directors of the scam-tainted Krushi Cooperative Urban Bank, has been remanded to CID custody by the Metropolitan Sessions Judge, Hyderabad.

Ramamurthy, who was in hiding since the Krushi Bank scam surfaced, was arrested by the CID from his relative's house in Rajahmundry on Tuesday. He was brought to the city on Wednesday and produced before Metropolitan Sessions Judge K C Bhanu on Wednesday night.

As per the judge's directive, Ramamurthy was produced in the metropolitan sessions court on Thursday and the judge ordered his police remand till September 5.

Later, in the evening, K Venugopal Rao, former vice-chairman of Krushi Bank, was produced before the Metropolitan Sessions Judge at the end of his five-day CID custody. However, the judge directed the CID to produce the accused in the court on Friday morning. Venugopal Rao had surrendered before the CID.

Meanwhile, even as the 10 special teams of the CID continued their search for the absconding former chairman K Venkateswara Rao and eight other directors of Krushi Bank, the state government has extended the reward of Rs 500,000, announced for clues on the whereabouts of the absconding chairman, to all other directors who are at large.

"Now, the reward is Rs 500,000 each for information on the whereabouts of the absconding directors as well, " a CID official said.

The CID seized two cars belonging to former chairman in the city. A Mercedes car, costing Rs 3.6 million, was found abandoned in the parking lot of a five-star hotel in the city. A Tata Sumo vehicle, abandoned at another place in the city, was also found.

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