Ex-IG Sivanandi booked for cheating
The former Inspector General was convicted under Article 420 of the IPC with a Ganapathy Ramasubramanian based on a complaint by VR Krishnaswamy.
According to the complaint, Sivanandi requested a 24% interest loan from Krishnasamy in 2015 for business development in association with the Nagarjuna Oil Company refinery project in Cuddalore.
Krishnaswamy allegedly transferred Rs 1 crore via RTGS to Ganapathy Ramasubramanian’s bank account and a loan agreement was signed between the two in the presence of Sivanandi at the latter’s house on Lloyds Road on September 9, 2015. Two witnesses to the agreement were Sivanandi’s wife, Dr. Kondammal. and Police Chief Manimaran, who was then assigned to Sivanandi’s house for security purposes. Manimaran recently died of COVID.
The victim would only have received interest from Ganapathy for five months. In addition, Sivanandi allegedly received Rs 50 lakh from the plaintiff in 2002 to set up a bottling plant for a popular soft drink brand in Thazhaiuthu with a Subramanian on the promise to take the victim as one of the partners. But, Sivanandi would never have fulfilled the obligation and would not have returned the money either.
It can be noted that the CCB arrested the second defendant in the Ganapathi Ramasubramanian case in connection with another cheating case a few days ago.