Kollywood Producer Aabavanan Sentenced For 5 Years Imprisonment and Fine of Rs 2.4 Crore

 Jun 01, 2016    By admin  2664 views

Kollywood Producer Aabavanan Sentenced for 5 Years Imprisonment and Fine of Rs 2.4 Crore

Kollywood Famous Producer Aabavanan who has produced many hit films like Oomai Vizhigal, Inanindha Kaigal and Senthoora Poove. Now is in Big Trouble. In 1999 Punjab National Bank filed case against Producer Aadavanan and the Manager and Assistant Manager of Cathedral Road branch of Punjab National Bank for misappropriation of cheque collection.
Manager, K Rajagopalan and Assistant manager,  T S Ramanujam purchased cheques from Amabavanan and his 16 associates indiscriminately against the bank procedures even though the previously discounted cheques of these parties were pending for realisation.Of the 69 cheques purchased, 44 cheques amounting to Rs 2.34 crore were not sent for collection. As such the amount went outstanding without realisation. The amount was credited into the parties account before realisation and the credited amount was withdrawn by Abavanan and Thenmozhi Abavanan. The case was going on for past seventeen years and the CBI Special Court has today given the verdict that all three were guilty.  Aabavanan guilty in a cheque related sentenced for 5 Years imprisonment and a fine of 2.4 Crores. Court also Sentenced Manager K Rajagopalan Imprisonment  for 3 years and fine of Rs 10 Lakhs and Assistant Manager T.S Ramanujam imprisonment for 3 Years and fine of Rs 15 Lakhs.
 Chennai CBI registered a Case against Zonal Manager of Punjab National Bank H.B Subramaniam and Aabavanan Wife, Thenmozhi.

 

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