Saritha S. Nair is wanted in investment fraud case also
Saritha S. Nair, prime accused in the solar panel scam in Kerala, was produced before a court here on Monday in connection with an investment fraud case filed by the Coimbatore District Crime Branch. An arrest warrant has been issued against her.
Judicial Magistrate-VI Karthikeyan posted the hearing to December 27 following which she was taken back to the district prison in Pathanamthitta in Kerala. The judge directed the prosecution to produce another accused in the case, Biju Radhakrishnan.
According to court sources, Biju, Saritha and R.C. Ravi, directors of ICMS-Power, the windmill technology division of the International Consultancy and Management Services (ICMS), based in Coimbatore, had defrauded two investors.
The ICMS had launched a campaign promising to set up windmills with Central subsidy. Based on this, Thiyagarajan, Managing Director of Raj Narayan Textiles, Vadavalli, invested Rs. 26 lakh to establish a windmill. However, the project never materialised. As he was not able to reach any of the directors despite several attempts, Mr. Thiyagarajan lodged a complaint with the Coimbatore District Crime Branch.
Similarly, Sri Abubabaji Charitable Mission Trust Managing Trustee Jyotsna N. Kilochand had invested Rs. 6.57 lakh. In this case too the windmill never materialised. Biju and Saritha could not be traced and their company offices in Coimbatore were found locked.