Mr Singanamala Ramesh, the tainted Tollywood producer who has been facing allegations of cheating and extortion, is now a free man.
He was released this morning from the Charlapalli Jail as a local court granted him conditional bail. Every week he should report to the police station near his residence and he should cooperate with the police for investigation.
He has been facing allegations of cheating film financier Ms. Vyjayanthi Reddy to the tune of Rs. 7.5 Cr and duping the Shalimar Video Company for nearly Rs.75 lakh in the name of granting video rights for his moves.
Mr Singanamala Ramesh is also facing charges of moving closely with Mr Bhanu Kiran, alleged killer of faction leader Maddelacheruvu Suri. Both of them are said to have threatened people and extorted huge amounts from them.
He was lodged in Charlapalli prison in Hyderabad after CID police arrested him at the Chennai airport some ten weeks ago.