Chennai: The Central Crime Branch have registered a case against retired IPS officer P Sivanandi on the charges of cheating a businessman of Rs 1.50 crore, which was received on two instalments for his business ventures.
Sivanandi has been called for inquiry. The former Inspector General was booked under Section 420 of IPC along with one Ganapathy Ramasubramanian based on a complaint by VR Krishnaswamy.
According to the complaint, Sivanandi demanded a loan for 24 per cent interest from Krishnasamy in 2015 for business development in association with Nagarjuna Oil Company Refinery Project at Cuddalore.
Krishnaswamy allegedly transferred Rs 1 crore through RTGS to Ganapathy Ramasubramanianās bank account and a loan agreement was signed between the two in the presence of Sivanandi at the latterās house on Lloyds Road on September 9, 2015. Two witnesses to the agreement was Sivanandiās wife Dr Kondammal and Head Constable Manimaran, who had been posted at Sivanandiās house for security then. Manimaran recently died of Covid-19.
The victim allegedly received interest from Ganapathy only for five months.
Also, Sivavanandi allegedly received `50 lakh from the complainant in 2002 to set up a bottling plant of a popular soft drink brand along with one Subramanian on the promise of taking the victim as one of the partners. But Sivananadi reportedly never fulfilled the obligation and did not return the money either.