CBI on lookout for beach mineral sand baron

CBI today said it is on the lookout for beach mineral sand baron S Vaikuntarajan and his brother, whose anticipatory bail plea was rejected recently by Madurai bench of Madras High Court in a disproportionate case filed against former Tuticorin Port trust chaiman Subbiah.
The brothers had been charged with conspiring with the chairman to amass wealth to the tune of Rs 8.23 crore.
CBI and local police sources said they could not trace Vaikuntarajan in his native place near here or in Chennai and suspected he might be absconding to get ready to file an appeal in the Supreme Court.

They expressed confidence that he would soon he nabbed for their probe into transfer of bribe money to Subbiah under the guise of buying property.
On Nov 7, the Madurai bench had dismissed the bail plea of the brothers,who apprehended arrest by CBI in the wealth case.
Subbiah had been charged with amassing assets and pecuniary resources of about Rs.8.23 crore in conspiracy with his mother under the guise of selling property in Karisalkulam village in Virudhunagar district in 2011 to the brothers.

The brothers had been charged with paying the amount to Subbiah under the guise of returning the advance for buying the property for a sum very much higher than its market value.

The duo submitted they entered into a sale agreement with Subbiah's mother, which was cancelled on Nov 25, 2008 due to breach of condition.The issue was referred to an arbitrator, who directed them return the entire amount, with interest.
They maintained the charge interlinking them with Subbiah was not true and had sought anticipatory bail.