CHENNAI: The city police have filed a chargesheet against former MP K C Palanisamy in a local court under various sections of the IPC in connection with a cheating case.
The case pertains to alleged swindling of `75 crore from a Mauritius-based company owned by a Singapore national by luring him to invest in India.
Police sources said that the Central Crime Branch of the Chennai city police named eight persons and eight companies, including the Coimbatore-based Cherraan Constructions Limited and the Cheran Foundation Trust as the accused in the chargesheet.
The chargesheet was filed before the Chief Metropolitan Magistrate court, Egmore.
The police accused that Palanisamy had “lured” R Athappan, a Singaporean, in 2004 to invest `75 crore as share capital in a joint venture company that intended to develop 26 acres of immovable property, worth `100 crore, in Coimbatore and build a hotel and an IT park.
However, other partners in the venture had accused that Palanisamy transferred an amount of `75 crore to the accounts of companies owned by him without their knowledge and cheated them.
The police said Palanisamy had committed offences punishable under Section 465 (punishment for forgery), 468 (forgery for the purpose of cheating), 471 (using as genuine forged documents), 477-A (falsification of account), 420 cheating and 423 (fraudulent removal or concealment of property) and other sections of the IPC.