SRM Group offers to deposit Rs 69 cr in court

Four days after the arrest of T R Pachamuthu, the founder chairman of SRM Group of educational institutions, in connection with an alleged scandal in medical admissions involving crores of rupees, his son today filed an affidavit in the Madras High Court offering to deposit Rs 69 crore.
The chancellor of the SRM University headquartered near here, was arrested on August 26 in connection with more than 100 complaints from parents relating to "transactions" involving payment of money running into several crores for getting admissions to medical courses in SRM institutions.
The parents had alleged they were duped after being promised medical seats in colleges run by SRM Group, and a case was filed by the police.

Film producer Madhan, who purportedly acted as an agent and collected huge sums of money from the parents, is the key accused in the case and has been missing since May.
On June 6, his mother filed a habeas corpus petition in the high court after she suspected foul play in her son's disappearance.
A division bench of Justice S Nagamuthu and Justice V Bharathidasan had on June 9 entrusted the probe on tracing Madhan as well as complaints made against him by students on payments made for getting admissions to the Central Crime Branch's Additional Deputy Commissioner S Radhakrishnan.

When the matter came up today before the bench, an affidavit was filed by Pachamuthu's son, offering to deposit in a magistrate's court Rs 69 crore, alleged to be the total amount of payments made by students for gaining admission.

The counsel for Pachamuthu said the lower court would be hearing his bail plea.
The counsel for students and parents, who allegedly made the payments for getting admission, said instead of depositing the money in the subordinate court, the amount may be directly paid to them.
To this, the bench said, "We cannot express any view as the matter is now under investigation. It is to be ascertained as to whether any money was paid, to whom it was paid and finally to whom it had gone. We leave it open for the investigating officer to do a thorough investigation."

It then posted the matter for further hearing to September 15.