HC stays cheque bounce case against SRM varsity chief

The Madras High Court has stayed proceedings against Chancellor of private SRM University T R Pachamuthu in a cheque bounce case pending in a city court.
Passing an interim order on Pachamuthu's a petition, Justice S Vimala dispensed with his personal appearance in the VI Metropolitan Magistrate Court in the case filed on a complaint by a film financier.
The Judge ordered issuance of notice to complainant S Mukundchand Bothra and adjourned the matter by six weeks.
The financier has alleged that Madan of Vendar Movies Production had borrowed Rs 7.50 crore from him and issued two cheques totalling Rs 2.60 crore as part repayment.

However, the cheques were returned by the bank as 'outdated/stale'.
He further claimed that Pachamuthu was a partner in the Vendar Movies and the cheques had been issued on his direction.

He had also alleged that a part of the borrowed amount was transferred to Pachamuthu for reserving medical seats in SRM college.
The Magistrate court had taken cognisance of the complaint, ordered summons to the petitioner to appear on May 30.
Pachamuthu's counsel contended that he was never a partner in Vendhar Movies and allegations against him were vague. Also, the cheques had been returned as they had been presented after the validity period, the counsel said, seeking quashing of the case.