Hyderabad:Shravan Kumar Rao, accused of Inews, seeks bail after being arrested in suspected fraud case. CCS police in Hyderabad arrested Akarsh Krishna, Akhand Infratech India Private Ltd, who alleged that the defendant and his group deceived his company over $658 million in the name of buying iron ore.
In the bail petition, Shravan Kumar argued that police had deliberately alleged that he had arrested him with other ulterior motives. His argument is that the amount that should be paid is paid to Acore Industries Pvt. A limited liability company that supplies iron ore. Transactions related to such transfers are essentially commercial and for sale considerations. However, police have registered criminal breach of trust. He brought to the court that he had nothing to do with Acore Industries.
