The Crime Branch has arrested Padma Shri winner Thiruvampadi Devaswom President Sundar Menon for committing a financial fraud of over Rs 30 crore. Prominent businessman, Padma Shri winner and Thiruvampadi Devasam President TA Sundar Menon has made a financial diversion of over Rs 30 crore by promising to repay double the amount after a five-year term. The question is raised whether such fraud heroes were nominated as Devaswom presidents and assigned to guard the money boxes of the devotees.
18 investors have come forward with a complaint against him. Sundar Menon is the chairman of the company which was working under the name of Heaven’s Finance. Congress leader CS Srinivas is the director of the institution. Investors say that they have invested lakhs of rupees in Hevans Finance and Hevans Nidhi Company by trusting their political and social involvement. But later the company is not ready to pay interest or principal to the investors. The complaint is that even the investors suffering from terminal illness were not ready to return the money.
They started the company in Kerala based in Jammu after investors who did not get their money filed a complaint with the police. But later it became clear that this firm does not have an office in Jammu. Four branches are mainly operating in Kerala. About 300 investors had filed complaints against the firm at various stages.
A petition was also filed in the High Court. The establishment closed months ago. The institution was also ordered to be confiscated under the Buds Act. Following the complaint of 18 people, Sundar Menon was called to the City Commissioner’s office and arrested. As the arrest was also under the Buds Act, this Padmashree will have to stay in jail for a long time.
Meanwhile, it is known that the Padma Shri may be bought back from businessman Sundar Menon, who was arrested for fraud. In such cases, the central government has the power to uphold the dignity of the country’s honor of Padma Shri by taking appropriate action.
Sundar Menon lives in Topaz Flats, Thrissur Shobha City. The arrest was made by the Thrissur City District Crime Branch investigation team. There were 18 cases registered at the Thrissur West Police Station for committing fraud by misrepresenting the directors of the Thrissur Chakamuk Hivan Nidhi Limited Hevan Finance Institution as members of the public, accepting deposits against the Reserve Bank’s terms and conditions and not returning the money even after the due date. Deposits were received from 62 complainants. The cases which were being investigated by the Thrissur West Police were later being investigated by the C Branch. The accused who was produced in the court was remanded and sent to the district jail. Assets of the defendant and other directors have been frozen under the Buds Act. Steps are being taken to confiscate the properties.
Another key director in these cases, West Police Station rowdy and accused Biju Manikandan, who was arrested at his house in Puturkara Puthan, is currently in jail.
Sundar Menon came to Qatar in 1986 and worked in various companies. In the early 1990s, he joined a British oil field service company based in Doha as a business executive. In 1999, he founded Sun Group International, with operations in the UAE, Qatar, Panama and India. Subsidiaries of Sun Group were major businesses in petrochemicals, natural resources, transport and real estate. Later, when Sundar Menon returned home, he borrowed money from many people. He spread business profile in Gulf, Padma Shri and Devaswom presidency as goodwill to buy money.
