There is finally some relief for parents who will get back the money they paid to film producer Madhan for securing MBBS seats for their children in SRM medical college.
On Wednesday, the SRM group agreed to return all the money, which will be paid from the Rs 75 crore that was given as a deposit in the court, RC Paul Kanagraj, counsel of the parents told The Times of India.
The court had asked SRM University Chancellor T R Pachamuthu to deposit Rs 75 crore in the court for bail. On Wednesday, an affidavit was filed before the metropolitan magistrate court in Saidapet asking to return the money to the parents.
Madhan had collected more than Rs 64 crore from 111 parents promising to provide them medical seats in SRM group institutions. However, Paul Kanagaraj told the high court that the money was paid to Madhan after Pachamuthu met the parents and promised them the admissions, reported ToI.
In May, Madhan went absconding after writing a suicide note. He was arrested from Tirupur in December.
Pachamuthu was also arrested after the High Court asked for a special officer to investigate the case. He was granted bail on September 8on the condition that he will deposit Rs 75 crore in court with a personal bond of Rs 10 lakhs, along with two sureties.
On Wednesday, the counsel for Pachamuthu claimed that if the court is of the opinion that the disbursement from the deposit of Rs 75 crore deposited by Pachamuthu would give relief to the parents, then Pachamuthu has no objection in returning the money on the condition that the parents will withdraw all their complaints.
Of the 123 complaints filed against Pachamuthu and Madhan for cheating, 40 students had filed their petition through advocate Paul Kanagaraj.