Producer Abavanan gets 5 years jail for cheating case

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Thursday, Jun 02, 2016

Producer Abavanan gets 5 years jail for cheating case

Producer Abavanan, who has directed Oomai Vizhigal, Senthoora Poove, horror film Karuppu Roja and Inaindha Kaigal etc has been sentenced for 5 years jail with a fine of Rs 2.40crore.

A city court on Tuesday convicted film director Abavanan along with two former officers of Punjab National Bank in a cheating case registered by CBI. 

According to the reports, the CBI, on the basis of a complaint, had registered a case against Abavanan, his wife Thenmozhi Abavanan, manager of Punjab National Bank, Cathedral Road Branch, K Rajagopalan, assistant manager, T S Ramanujam and deputy zonal manager, H B Subramaniam.

The case was registered on the allegation that in 1999, Rajagopalan, Ramanujam and Subramaniam purchased cheques from Abavanan and his 16 associates indiscriminately.

Under the 'cheque purchase facility' account holders could avail immediate credit equivalent to the value of the cheques they present. Out of the 69 cheques purchased, 44 cheques amounting to 2,34,60,000 were not realised.

The amount, however, was credited to their accounts and was withdrawn by Abavanan and Thenmozhi Abavanan. Because of this the bank suffered 2,34,60,000 loss. After investigation, the CBI filed a chargesheet against the accused.

On Tuesday, K Venkatasamy, XI additional special judge for CBI cases sentenced Abavanan to five years RI along with a fine of 2.4 lakh. Rajagopalan and Ramanujam were sentenced to three years RI along with a fine of 15 lakh and 10 lakh respectively.

Subramaniam and Smt Thenmozhi Abavanan, however, were acquitted from the case.

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