CHENNAI: P Sivanandi, a retired IPS officer who has been booked by Central Crime Branch (CCB) in a case related to a businessman being cheated of Rs 1.50 crore, has been called for inquiry. The former Inspector General was booked under Section 420 of IPC along with one Ganapathy Ramasubramanian based on a complaint by VR Krishnaswamy. Police sources said that they have called Sivanandi for an inquiry.
According to the complaint, Sivanandi sought a loan with 24 per cent interest from Krishnasamy in 2015 for a business associated with Nagarjuna Oil Company Refinery Project at Cuddalore. Krishnaswamy allegedly transferred Rs 1 crore through RTGS to Ganapathy’s bank account and a loan agreement was signed between the two in the presence of Sivanandi at the latter’s house on Lloyds Road on September 9, 2015. The two witnesses to the agreement was Sivanandi’s wife Dr Kondammal and Head Constable Manimaran, who had been posted at Sivanandi’s house as an orderly. Manimaran recently died of Covid-19. However, the victim allegedly received interest from Ganapathy only for five months.
Also, Sivavanandi allegedly received `50 lakh from the complainant in 2002 to set up a bottling plant of a popular soft drink brand along with one Subramanian on the promise of taking the victim as one of the partners. But Sivananadi reportedly never fulfilled the obligation and did not return the money either. It may be noted that CCB arrested the second accused in the case, Ganapathi Ramasubramanian, in connection with another cheating case recently.