Tamil film producer Ravindhar Chandrasekaran was arrested by the Chennai Central Crime Branch on Thursday...
Digital Desk: In a shocking turn of events, Tamil film producer Ravindhar Chandrasekaran was arrested by the Chennai Central Crime Branch on Thursday. He faces allegations of cheating a private media firm, Madhav Media Private Limited, of nearly Rs 16 crore. The arrest came after he allegedly promised to invest the funds in a green energy venture that would convert solid waste into renewable energy. Subsequently, Chandrasekaran was remanded to judicial custody.
According to a press release issued by the police, the complainant in the case, Balaji Kapa, had filed a complaint before the Greater Chennai police commissioner, accusing Chandrasekaran, the owner of Libra Productions Private Ltd, of fraudulent activities. Kapa claimed that in October 2020, Chandrasekaran approached Madhav Media Private Limited with a proposal to launch a new business centered around a power project that would convert municipal solid waste into energy. In return for financial assistance, Chandrasekaran had promised substantial profits.
Kapa entered into an investment agreement with Chandrasekaran in September 2020, and as part of the agreement, he transferred a significant sum amounting to Rs 15.83 crore. However, to Kapa's dismay, Chandrasekaran allegedly failed to initiate the green energy project or return the invested funds. Consequently, Kapa lodged a formal complaint with the authorities.
Upon receiving Kapa's complaint, the Entrusted Document Fraud (EDF) wing of the Central Crime Branch took up the investigation. Their diligent efforts uncovered disturbing details of the alleged fraud.
The police stated, "During the investigation, it was revealed that Ravindhar of M/S Libra Production Pvt Ltd, with dishonest intention to deceive the complainant, showed the forged document as if they proposed to start a new power project by converting farm residue into renewable energy and converting municipal solid waste into energy and received money."
The arrest of Ravindhar Chandrasekaran sends shockwaves through the Tamil film industry and the business community. His reputation as a film producer now faces tarnish, and legal proceedings will determine the course of justice in this case.
Chandrasekaran's arrest underscores the importance of due diligence and legal safeguards in business transactions, emphasizing the need for individuals and companies to exercise caution when entering into financial agreements.
The accused producer is expected to face legal proceedings as the investigation continues, with a keen focus on uncovering the full extent of the alleged fraud and ensuring justice for the victim, Madhav Media Private Limited.
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