Hydrabad City Police arrested G S Raju, Director of Nagarjuna Finance Ltd (NFL), on Sunday, under charges of cheating depositors, thus taking the number of arrested persons to three.

Raju was detained by the Immigration Officials at Indira Gandhi International Airport in New Delhi, while he was boarding a flight to the US.

He was brought to Hydrabad and produced before a court today which remanded him to 14-day judicial custody.

DCP R S Praveen Kumar said, "Raju was detained yesterday in Delhi and was brought to Hyderabad and produced before the City Metropolitan Magistrate."

Earlier, the Chairman K S Raju and Director P K Mahadevan were arrested by the City Police on the charges of cheating and defaulting payments of matured deposits. They both are under judicial custody.

They were arrested under various sections of the IPC and the Andhra Pradesh Depositors' Protection Act, for cheating the company's fixed depositors across eight states.