Thiess India CEO arrested

Australia's Leighton Holdings today said said CEO of its arm Thiess India has been arrested by the Hyderabad Police.
Thiess India is a 90 per cent owned subsidiary of Thiess Pty Ltd.
"A private complaint has been filed with the Hyderabad Police which has resulted in the Chief Executive of Thiess Minecs Dr Raman Srikanth being arrested on Friday May, 9, 2014," the company said in a statement today.
In a filing to the Australian Stock Exchange, it said Srikanth was arrested in relation to an ongoing civil proceedings filed by an Indian company in Singapore.
"The complaint has been made by Hyderabad-based company Roshni Developers Private Limited and relates to matters that are currently the subject of civil arbitration proceedings in Singapore that have been ongoing for two years," the statement said.

"The complaint is unfounded and urgent applications are being made to the courts in Hyderabad to dismiss it", it said without providing details of any charges against Srikanth.

Thiess is supporting Srikanth and providing every assistance to him and his family, it added.
However, it made clear that "Leighton Holdings and its subsidiary Thiess are unable to provide any further comment at this stage."
Shares of Leighton Holdings closed at AUD 19.8, down 1.25 per cent from the previous close in the Australian Securities Exchange.