Ramesh gave blank cheques to pacify lenders
HYDERABAD: Criminal Investigation Department officials informed the VI Additional Chief Metropolitan Magistrate they have recovered more than 100 blank cheques and 20 credit and debit cards of various banks from the possession of film producer Singanamala Ramesh.
Ramesh who was produced in court, was sent to judicial remand till July 11. CID also moved a petition seeking police custody of the producer for 10 days. The arguments are posted for Tuesday.
Police said though lookout notices were issued against Ramesh by the Tamil Nadu and Andhra Pradesh police for various cheque bounce cases, he was ready to distribute blank cheques to buy some time from persons he took crores of rupees in loans. CID officials informed that Ramesh had confessed to threatening film financier Vyjayanthi Reddy, to whom he owed Rs 14.69 crore, with assistance of Bhanu Kiran, prime accused in Suri's murder.
'Since Vyjayanthi Reddy had been exerting pressure to return her money, I approached Anantapur faction leader Maddelacheruvu Suri, who in turn asked Bhanu Kiran to look into the issue. Bhanu threatened both Vyjayanthi and her husband of dire consequences,' Ramesh reportedly said in his confession. He also said he became bankrupt after incurring huge losses, as few of the movies produced by him failed miserably.
Ramesh added he entered the industry after completing his studies to continue the legacy of his father Satya Rama Murthy, a film financier. 'When I was new to the industry, I met film producer Chillara Kalyan with whom I later produced several movies together. Subsequently, we started Balaji Color Labs in Film Nagar,' Ramesh said.
Ramesh said he initially took Rs 7.62 crore from Vyjayanthi and subsequently another Rs 10.50 crore. As his movies Komaram Puli and Khaleja failed miserably, Vyjayanthi started pressing Ramesh to return the money. 'I managed to return more than Rs 3 crore by registering three flats on her name. But she was still due Rs 14.69 crore,' he said.
Ramesh also confessed he did not give DVD rights to Mohammed Ashraf, managing partner of Shalimar Video Company, despite taking Rs 34 lakh from him. 'Actually we entered into an agreement for Rs 52 lakh but Ashraf paid me only Rs 34 lakh. Since he did not pay the remaining amount and our agreement was an oral one, I did not execute it,' Ramesh added.
News Posted: 29 June, 2011
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