Keshav Reddy furious on his arrest?
Popular educationist Keshav Reddy, Chairman of Keshav Reddy Educational Institutions was arrested by Kurnool police for failing to refund the deposits he collected from 11000 parents of the students in his educational nstitutions and 800 private persons. Kurnool SP AKe Ravi Krishna informed that police arrested Keshav Reddy under sections 5,109,403 and 420. Keshav Reddy collected more than Rs 470 crore deposits and 62 crore loan from banks.
Police registered cases against Keshav Reddy
Police registered cases against Keshav Reddy in Panyam and Nandyal. Keshav Reddy speaking to media after his arrest said if he wished not to refund the collected money,he would have applied for IP.
He promised to refund his investors their money with in one year. Keshav Reddy revealed that he acquired lands for realestate business in Telangana and Andhra Pradesh and said he needs time to sell the properties to refund the money.