Padma Shri awardee arrested for financial fraud in Kerala
Kerala businessman and Padma Shri awardee Sundar C Menon has been arrested over complaints of alleged financial fraud in this district, police said on Tuesday.
He was arrested by the district crime branch wing of the state police on Sunday and sent to the district prison here after being remanded by a local court.
According to police, Menon, a recipient of the civilian honour in 2016, faced 18 cases of financial fraud in connection with accepting deposits from people in the name of two firms in which he was one of the directors.
He allegedly accepted Rs 7.78 crore from various people but didn't return the money after the maturity period of the schemes, the police added.
The accused committed the fraud by accepting deposits from over 62 investors, violating Reserve Bank of India (RBI) norms and cheating them by not returning the amount even after the maturity period, a police statement said.
"There were 18 cases registered against the accused at the West Police station here," it said, adding the investigation was later handed over to the Crime Branch.
As per the BUDS (Banning of Unregulated Deposit Schemes) Act, the properties of Menon and other directors of the firm have been frozen, and steps are being taken to attach them, police added.
Sixty-three-year-old Menon was also the president of the Thiruvambady Devaswom, one of the organisers of the famed Thrissur Pooram.
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CPI(M) rebel Kunhikrishnan hopes for 5,000-vote win in Payyanur
Kannur (Kerala) (PTI): CPI(M) rebel candidate V Kunhikrishnan, who contested as a UDF-backed Independent from Payyanur here, on Saturday said he was hoping to win the Assembly election by a margin of 5,000 votes.
Kunhikrishnan was expelled from the CPI(M) earlier this year after raising allegations of corruption in the party’s martyrs’ fund against sitting MLA T I Madhusoodanan.
Speaking to a TV channel, Kunhikrishnan said he had announced his candidature as a mark of protest and not with expectations of victory.
However, he said the situation had changed drastically, with a strong undercurrent within CPI(M) votes favouring him.
"The undercurrent in CPI(M) votes cannot be measured. Now people are giving a response indicating victory with a margin of at least 5,000 votes," he said.
Payyanur is considered a CPI(M) stronghold, and a defeat for Madhusoodanan there would be a major setback for the party.
On political violence in Payyanur, Kunhikrishnan said he had been facing it since filing his nomination.
"The people leading this violence should think about how long they can continue it. It is the police which has to take the initiative to stop this violence as part of maintaining law and order. But the police are not intervening at the required level," he said.
Regarding his political future, Kunhikrishnan said efforts were underway to strengthen Left groups, and discussions were being held across Kerala in that regard.
"After discussing with others, a decision will be taken," he said.
Kunhikrishnan is among six former CPI(M) leaders who either exited the party or were suspended before contesting for the UDF in the April 9 Assembly elections.
Elections to the 140-seat Kerala Assembly were held on April 9, and the counting of votes will be held on May 4.
