Madras HC impleads ED in KN Nehru’s brother’s plea to quash CBI case
The petitioner vehemently objected to the submission as it would cause damage to him;
Madras High Court
CHENNAI: The Madras High Court allowed the Directorate of Enforcement (ED) to be a party in the petition moved by KN Ravichandran, the chairman of True Value Homes and brother of minister KN Nehru, seeking to quash the pending CBI case.
On Tuesday, Justice M Nirmal Kumar heard the petition moved by KN Ravichandran challenging the pending criminal proceeding against him.
Special public prosecutor for ED, N Ramesh, sought the permission of the court to implead the enforcement agency, highlighting that based on the CBI case, the ED initiated search proceedings in the places owned by the persons connected to the predicate offense.
The petitioner vehemently objected to the submission as it would cause damage to him. However, the judge allowed the ED to file and implead the petition and posted the matter to June 12 for further proceedings.
On March 30, 2013, the Indian Overseas Bank granted a loan to Truedom EPC India Private Limited to the tune of Rs 30 crore to set up a 100.8 megawatt wind energy production unit at Tirupur.
The IOB alleged that Truedom EPC failed to repay the loan amount and also illegally siphoned off the loan amount to the TVH real estate company founded by Ravichandran.
Based on a complaint, on December 3, 2021, the CBI booked a case against the directors of Truedom EPC, Elayaraja, Arivunithi, Selvamani, and the chairman of TVH, Ravichandran.
The ED registered an enforcement case information report (ECIR) against the accused persons based on the CBI case. Followed by that, on April 7, the ED sleuths conducted raids on the premises at Chennai, Tiruchy, and Coimbatore belonging to KN Nehru and his brother Ravichandran.