Srinivasa Perumal Accounting Company based in Tatabad, Coimbatore had swindled Rs.4.22 crores from 654 people till 2008.
Coimbatore: Srinivasa Perumal Accounting Company, based in Tatabad, Coimbatore had swindled Rs.4.22 crores from 654 people till 2008.
Krishnamurthy, Varadarajan, Vijayaragavan and Chitra Krishnamurthy who are the shareholders of the company are presently being tried at the Coimbatore TANPID (Tamil Nadu protection of Interests of Depositors) Court.
The 5,200-square foot building in Tatabad which was seized from the fraudulent financial institution was suspended from continuing its operations by the Government. Prosecutor Manikkaraj filed a petition seeking a permanent freeze on the property and permission to put it up for public auction. The trial court ordered a permanent freeze, allowing the District Revenue Department to sell the property on public auction.