The Central Bureau of Investigation on Tuesday arrested M Manu Neethi Cholan, Registrar of Companies (Chennai), on charges of accepting bribe from MAM Ramaswamy, Chairman, Chettinad Group.
According to a release from the Anti Corruption Bureau (ACB) of the CBI, officials had received information from a reliable source about Cholan demanding ₹10 lakh ‘illegal gratification’ from Ramaswamy.
The information also revealed that there was an attempt by a rival group within the Chettinad management to take control of the Group during the AGM in Chennai on Wednesday.
The ACB registered a case on Tuesday. It intercepted and conducted a surprise check of a vehicle in which Cholan was travelling immediately after collecting the money and seized ₹10 lakh from his possession, the release said. The CBI also searched Cholan’s residence and office and seized ₹20 lakh from the residence. Cholan will be produced before the Special Judge Court for CBI Cases in Chennai. The release also said CBI searched an office at Chettinad House, Raja Annamalaipuram, Chennai.
According to a CBI official concerned, Ramaswamy has been named a second accused in the case under investigation.