Ex Deccan Chronicle dir declared absconder | chandigarh | Hindustan Times
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Ex Deccan Chronicle dir declared absconder

chandigarh Updated: Feb 15, 2014 13:46 IST
HT Correspondent

Taking cognisance of failure of Siddhartha Pendyai, former director of Deccan Chronicle Holdings Limited (DCHL), to appear before court in connection with the ongoing cheque bounce case, judicial magistrate Shifa declared him as a proclaimed absconder.

In its order dated February 7, whose copy was made available on Friday, Pendyai was declared a proclaimed absconder in the four cheque bounce cases registered against DCHL and its seven directors by Religare Finvest Limited (RFL).

The said cheques amounting to `3 crore were issued on behalf of DCHL which had availed a loan of `240 crores from RFL. The cheques, however, bounced upon presentation as DCHL's account was frozen, thus forcing Religare to initiate criminal proceedings against DCHL and its directors at Chandigarh.

Despite issuance of summons and bailable and non-bailable warrants thereafter on several occasions, Pendyai did not appear before the court for almost one and a half year, thus the court declared him as a proclaimed absconder.

Incidentally, Pendyai has also been named as an accused in an FIR registered under sections 220, 406 and 120B of the Indian Penal Code (IPC) for criminal breach of trust and criminal conspiracy by the Economic Offences Wing in May 2013, pursuant to a complaint made by Religare against DCHL and its directors. Pendyai has also been accused of colluding with DCHL in defrauding RFL of almost `62 crore. ?