"The television channel's CEO Lakshmiprasad Vajpai, 42, was arrested on Friday night after he was caught accepting the ransom money from a businessman whom he had blackmailed to expose him," Koramanagala Police Inspector R.M. Ajay told IANS here.
Police also arrested Mithun, an employee of the channel, along with Vajpai after raiding their office in the city's eastern suburb on a complaint from the businessman.
"Vajpai had allegedly threatened the businessman of telecasting a derogatory video footage on him and his company if he did not pay up Rs 10 crore," said Ajay.
The news channel had already telecast a part of the video to force the businessman to pay up the ransom.
A First Information Report (FIR) was registered on Saturday against the accused under sections 384 (extortion), 385 (putting a person in fear of injury) and 506 (criminal intimidation) of the Indian Penal Code (IPC) based on the victim's complaint.
Another case was registered against Vajpai and his associates at the Commercial Street Police Station under the same sections of the IPC for demanding Rs 10 crore and jewellery valued at Rs 30 lakh as extortion from another businessman.
Vajpai is alleged to have received Rs 10 crore through bank transactions in unspecified accounts out of the Rs 15-crore ransom he had sought from the second businessman.
The arrested persons were produced in a local court for judicial remand for further investigation.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.