Arrested SRM Chancellor TR Pachamuthu offers to deposit Rs 69 crore with Madras High Court

Chennai: There is some good news for the scores of parents duped of huge amounts of money on the promise of medical seats by SRM University management.

SRM Chancellor TR Pachamuthu and his son Sathyanarayanan informed the Madras High Court on Tuesday through their lawyer that they would deposit Rs 69 crore with the court.

Pachamuthu is at present in judicial custody and being interrogated by the police on the complaint of over 100 people, parents of students promised medical seats for monetary considerations. The offer to deposit money with court was made through Pachamuthu’s lawyer, who has moved a bail pleas separately.

His offer of making the deposit of Rs 69 crore to the Madras High Court was objected to by the complainants who said he rather paid them directly.

Pachamuthu, who owns the private university offering professional and regular degree and post graduate courses also owns transport company and a television channel, maintained that someone had misused the name of his college and collected funds from unsuspecting people.

Yet, his lawyer submitted a petition saying that he would deposit a sum of Rs 69 crore with the Madras High Court.

The case had come up for hearing in the magistrate’s court. The magistrate adjourned the case to September 15 but allowed custodial interrogation of Pachamuthu by the police.

The prosecution lawyer told press persons that the magistrate has permitted police to do custodial interrogation of Pachamuthu from 7.30 in the morning till 5.30 p.m. The prosecution had sought police custody for five days.

Pachamuthu’s bail plea would come up for hearing on September 1 iin the magistrate’s court. .