CHENNAI: Registrar of Companies M Manuneethi Cholan was on Tuesday caught red-handed by the anti-corruption bureau of the CBI minutes after he reportedly collected a bribe to reject an anticipated resolution against the chairman of a renowned city-based conglomerate in his company’s annual general body meeting.
A statement from the CBI said Cholan had demanded a bribe of Rs 10 lakh from MAM Ramaswamy, chairman of the 102-year-old Chettinad Group of Companies, for him to not approve any resolution against Ramaswamy that is anticipated in the company’s apex board meeting scheduled on Wednesday. The CBI said a rival group in the firm was trying to take control of the management from 84-year-old Ramaswamy during the meeting.
In an action packed operation, the CBI sleuths intercepted the Honda City sedan in which Cholan was travelling after collecting the bribe money. “A surprise check of the car found he was carrying `10 lakh cash for which he was unable to produce any satisfactory explanation. Subsequently, a search was conducted in his house and a further `20 lakh cash was seized,” said the statement.
The CBI officials initiated simultaneous searches at the residences of Cholan, his chamber at the Office of RoC, Chennai, his private office in T Nagar, and the office of the group chairman at RA Puram. During the search, several incriminating documents and a hard disc, believed to have the transaction details, were seized.
The CBI was continuing the search at Cholan’s residence and other places late into the night. He was booked under the Prevention of Corruption Act and produced before the Special Court judge for CBI cases.