In 2009, the CBI had registered a case against 14 persons, including a former AIADMK minster, Dr Ammamuthu Pillai for allegedly cheating the Indian Overseas Bank (IOB) Palayamkottai branch for getting various loan facilities.
The CBI said Dr Ramalakshmi, a Siddha practitioner and professor and her husband Raja Samuvel, a government teacher along with one Udaya Raj had approached the bank in 2008 asking to sanction a loan of Rs 1.65 crore towards buying equipment for their proposed hospital - Jaya's Ayush.
Then chief manager of the bank, G Balasubramanian entered into a criminal conspiracy with them with an intention to cheat the bank. In furtherance of the said criminal conspiracy, Balasubramanian by corrupt or illegal means or otherwise, by abusing his official position as a public servant, dishonestly sanctioned and disbursed the loan amount Rs 89.85 lakh to the couple. When senior officials examined the bills and other documents submitted by them, it was found to be fake.
After a thorough investigation, CBI on Thursday arrested the couple in Tirunelveli and produced it before Rajasekar, the CBI special Judge, Madurai. The judge remanded the couple to judicial custody till January 27.
The CBI also arrested another accused S P Shenbagamoorthy for allegedly cheating the bank in Tirunelveli. He was remanded to judicial custody till January 25.
