Investment fraud case involving TA Sundar Menon: KPCC Secretary CS Srinivasan arrested

THRISSUR: KPCC Secretary and former Thrissur Corporation Councilor CS Srinivasan (54) has been arrested in connection with the multi-crore fraud case involving Padma Shri winner and Thiruvambady Devaswom president TA Sundar Menon. Srinivasan, a native of Annamanada Palissery, was arrested by the Thrissur City District Crime Branch from Kalady. Srinivasan, who had applied for anticipatory bail, was absconding.

Srinivasan was the managing director of Thrissur Heewan Nidhi Limited and Heewan Finance, both of which were chaired by TA Sundar Menon. Sundar Menon was arrested on the 4th. TA Sundar Menon was arrested in 18 cases related to defrauding 62 investors of over Rs 7.78 crore. Srinivasan's arrest is a continuation of that. Another accused, Biju Manikandan, is in jail.

The assets of the accused and other directors were frozen. The process of confiscating the property is ongoing. Cases have been registered at the west police station for the crimes of misleading the people, accepting deposits contrary to the terms of the Reserve Bank and not returning the money even after the expiry of the period.

300 investors in different districts have filed complaints at various stages. They had filed a petition in the High Court too. Unofficial information is that 17 crore rupees are to be returned. Crime Branch took over the cases investigated by West police as complaints increased.

They started the firm in Kerala saying they are headquartered in Jammu. It became clear that there is no office in Jammu. There were mainly four branches in Kerala. The establishment closed months ago.