A financial company called ‘Vishwapriya Finance Service and Security Private Limited’ was operating in Adyar area of Chennai. Many people have invested in this company believing that it gives high interest on their investments. In this situation, there was a complaint that this company had committed fraud. In 2013, Ramadas from Velachery filed a complaint with the Chennai Economic Crimes Police Station.
Based on his complaint, 17 directors of Vishwabriya Finance Service and Security Private Limited and its subsidiaries Subiksha Subramanian, Narayanan, Rajaratnam, Balasubramanian, Augustine, Ganesh, among others, were investigated under various sections including fraud.
Following this, the police filed a chargesheet against these companies in the court in 2020. Following this, directors Narayanan, Rajaratnam and Ramasamy died during the investigation of this case. A special court declared Appadurai, who is absconding, a wanted accused in the case.
In this case, the hearing related to this case came to the court today (20-11-23). The court heard the petition and sentenced Subhiksha Subramanian to 20 years in prison, Srividya to 4 years and 9 other directors and employees to 10 years each. Further, the court imposed a fine of Rs 191.98 crore on them, of which Rs 180 crore should be paid to the victims.