This case has been adjourned to September 15.

SRM Pachamuthu agrees to deposit Rs 69 crore in court seeks bail
news Court Tuesday, August 30, 2016 - 14:41

More than three days after his arrest, SRM Group Chairman TR Pachamuthu and his son Sathyanarayanan told the Madras High Court that they would deposit Rs 69 crore in the court. This was conveyed to the High Court by Pachamuthu’s lawyer during the hearing of a cheating case filed against producer and Vendhar Movies Managing Partner, S Madhan and Pachamuthu.

Over 100 parents filed a complaint with the police alleging that they had paid around Rs 50 lakh each on the guarantee their wards would get an MBBS seat. 

Read: SRM Pachamuthu arrest: Edu barons exposed repeatedly, will it be different this time?

Parents, however, objected to Pachamuthu’s offer to deposit the cash in court and requested that the amount be paid directly to them.

The SRM Group Chairman’s counsel also claimed that someone had falsely used the name of the college to get money from aspiring students.

Pachamuthu’s lawyer has also filed a petition agreeing to pay the amount to the court.

This case has been adjourned to September 15.

Read: SRM Group chairman TR Pachamuthu arrested by Chennai police


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