Mukundchand Bothra, a reputed film financier filed a complaint against TR Pachamuthu, alleging that the latter had threatened him for asking him to repay Rs 7 crore, which the SRM Group owner had borrowed from him. Bothra told reporters that the loan was availed by Vendhar Movies, the film production company owned by Patchamuthu, who has another name Pari Vendhar.
Following the failure of the Vendhar Movies to release the movie even after months, Bothra approached Madhan, an acolyte of Pachamuthu and asked him to return the money. “But I was threatened by Patchamuthu over the phone. Though a cheque of Rs 1 crore was issued by Madhan , it gotbounced,” Bothra told reporters.
Pachamuthu, the owner of high profile SRM Group and chancellor of SRM University, one of the largest private universities in the country, who was arrested by Chennai Police on Friday on charges of cheating and criminal breach of trust has been remanded and sent to Puzhal Central Prison late in the night.
Chancellor Pachamuthu was held by Crime Branch wing of Chennai Police following more than 100 complaints filed by parents of students who alleged that the former and his associates had cheated them of more than Rs 75 crore with promises of admission to MBBS course in a medical college owned by the SRM University. The whole affair took a curious turn with the disappearance of Madhan, a close associate of Pachamuthu, since May 2016. Though probe is on to find the whereabouts of Madhan, it has not yet yielded any results.
Pachamuthu and his battery of lawyers tried everything to avoid the arrest and pointed that the former had cooperated with the police and would be available for further interrogation. Around 11 pm, the Magistrate, who heard Patchamuthu's lawyers at the judicial officers' quarters at Saidapet remanded the accused till September 2 and ordered him to be taken to high security prison.