Madras High Court
R.Venkataramanan vs State Rep.By, The Deputy ... on 28 April, 2026
Author: G.K.Ilanthiraiyan
Bench: G.K. Ilanthiraiyan
Crl.MP.Nos.3399, 3400 & 3402 of 2025
Crl.MP.Nos.3399, 3400 & 3402 of 2025
in
Crl.A.Nos.1456, 1483 & 1434 of 2023
G.K.ILANTHIRAIYAN, J.
At the instance of the learned counsel appearing for the petitioners, today
this matter has been posted under the caption “for being mentioned”.
2. Heard, the learned counsel appearing on either side.
3. On hearing the submissions of the learned counsel appearing on either
side, it is ordered that in the second page of the order passed in
Crl.MP.Nos.3399, 3400 & 3402 of 2025 in Crl.A.Nos.1456, 1483 & 1434 of
2023 dated 24.04.2026, the prayer in Crl.MP.No.3402 of 2025 shall read as
follows:
Prayer in Crl.M.P.No.3402 of 2025: This petition is filed under
section 374 of Cr.P.C to suspend the sentence imposed on the
petitioner by the order and Judgment dated 20.11.2023 in
CC.No.6/2020 by the learned Special Judge for TNPID Act,
Chennai and enlarge the petitioner on bail pending disposal of
the Criminal Appeal.
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Crl.MP.Nos.3399, 3400 & 3402 of 2025
4. Further, in the second page, the counsel appearance portion shall read
as follows:
For Petitioner
in Crl.MP.No.3399 of 2025
& Crl.MP.No.3400 of 2025 :Mr.B. Kumar,
Senior Counsel
for Mr.S.Murugan
For Petitioner
in Crl.MP.No.3402 of 2025 : Mr.Muthucharan Sundaresh
For Respondent in
all the petitions : Mr.L.Baskaran,
Government Advocate
5. Further, in the third page, the third paragraph i.e. “Petitioner in
Crl.M.P.No.3402 of 2025 who is arrayed as A33 has filed this petition to set
aside the conviction and sentence imposed by judgment dated 20.11.2023
passed in CC.No.6 of 2020 by the Special Court for Trial of TNPID Cases,
Chennai” shall read as follows:
“Petitioner in Crl.M.P.No.3402 of 2025 who is arrayed as
A33 has filed this petition to suspend the sentence imposed on the
petitioner by the order and Judgment dated 20.11.2023 in
CC.No.6/2020 by the learned Special Judge for TNPID Act,
Chennai and enlarge the petitioner on bail pending disposal of the
Criminal Appeal”
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6. Further, the entire seventh paragraph of the order shall read as follows:
“7.Considering the submissions of the learned counsel
appearing on either side coupled with the quantum of punishment
imposed upon the petitioner and taking into consideration the fact
that this criminal appeal is not likely to be taken for final hearing
in the near future, this Court is of the view that the substantive
sentence of imprisonment alone can be suspended on certain
conditions. Accordingly, till the disposal of the Criminal Appeal,
the reliefs of suspension of sentence and bail are granted on the
following conditions:
(i) Petitioner in Crl.M.P.No.3402 of 2025/A33 shall deposit
a sum of Rs.5,00,000/- ( Rupees Five Lakhs only) to the credit of
CC.No.6 of 2020 on the file of the learned Special Judge for
TNPID Act. Petitioners in Crl.M.P.Nos. 3399 and 3400 of 2025
who are arrayed as A10 and A12 are directed to deposit a sum of
Rs.1,00,00,000/- (Rupees One Crore only) each to the credit of
CC.No.6 of 2020 on the file of the learned Special Judge for
TNPID Act. The petitioners are directed to deposit the said amount
within a period of four weeks from today. Failing which, the order
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Crl.MP.Nos.3399, 3400 & 3402 of 2025
passed by this Court shall stand automatically cancelled. On such
deposit, the competent authority is directed to disburse the amount
to the victims in accordance with law.
(ii) On the petitioners depositing the amount as stated clause
(i) supra, the sentence of imprisonment alone, imposed on the
petitioners/ accused, shall be suspended, on execution of a bond
for a sum of Rs.1,00,000/- each with two sureties, each for a
likesum to the satisfaction of the trial court;
(iii) The petitioners and the sureties shall affix their
photographs and Left Thumb Impression in the surety bond and
the trial Court may obtain a copy of their Aadhar card or Bank
pass Book and mobile numbers to ensure their identity;
(iv) The petitioners shall appear before the Trial Court on
the first working day of every English Calendar month at 10.30
a.m., until the disposal of the Appeal and if they did not able to
appear before the trial Court on any day, they shall make
arrangements to file an application under Section 355 of BNSS,
2023 and shall appear before the trial Court on any other day in
lieu of the date of their absence, as directed by the trial Court;
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Crl.MP.Nos.3399, 3400 & 3402 of 2025
7. Accordingly, the Registry is directed to issue a fresh order copy in
Crl.MP.Nos.3399, 3400 & 3402 of 2025 in Crl.A.Nos.1456, 1483 & 1434 of
2023 dated 24.04.2026 after making necessary corrections.
28.04.2026
lok
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Crl.MP.Nos.3399, 3400 & 3402 of 2025
G.K.ILANTHIRAIYAN, J.
lok
Crl.MP.Nos.3399, 3400 & 3402 of 2025
in Crl.A.Nos.1456, 1483 & 1434 of 2023
28.04.2026
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Crl.MP.Nos.3399, 3400 & 3402 of 2025
IN THE HIGH COURT OF JUDICATURE AT MADRAS
Reserved on: 20.04.2026
Pronounced on : 24 .04.2026
CORAM
THE HON'BLE MR JUSTICE G.K. ILANTHIRAIYAN
CRL MP Nos. 3399, 3400 and 3402 of 2025
IN
CRL A NOs. 1456,1483 and 1434 OF 2023
R.Venkataramanan
S/o.Erode Sivaraman Ramanathan,
Flat No A2, Arun Flats 40,41 West
Circular Road,
Mandaveli, Chennai-600 028
Petitioner in Crl.M.P.No. 3399 of
2025/A10
P.Augustine
S/o. Pattu Samuel,
R/o.Old No.16, Gurunath Nagar,
Thirumal Nagar Extension, Sembakkam,
Chennai - 600 064.
Petitioner in Crl.M.P.No. 3400 of
2025/A12
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Crl.MP.Nos.3399, 3400 & 3402 of 2025
K.Sharat Babu Thadi
S/O.Krishna Murthy Thadi,
HN-12-1-331/98, Dattatreya Colony,
Asifnagar, Hyderabad, Telengana.
Petitioner in Crl.M.P.No. 3402 of
2025/A33
Vs.
State Rep.By, The Deputy Superintendent Of
Police,
Economic Offences Wing -ii,
Guindy, Chennai - 32.
..Respondent(s)
Prayer in Crl.M.P.No.3399 of 205: This petition is filed under Section
374 of Cr.P.C to suspend the sentence imposed on the petitioner by the order
and Judgment dated 20.11.2023 in CC.No.6/2020 by the learned Special Judge
for TNPID Act, Chennai and enlarge the petitioner on bail pending disposal of
the Criminal Appeal.
Prayer in Crl.M.P.No. 3400 of 2025: This petition is filed under section
374 of Cr.P.C to suspend the sentence imposed on the petitioner by the order
and Judgment dated 20.11.2023 in CC.No.6/2020 by the learned Special Judge
for TNPID Act, Chennai and enlarge the petitioner on bail pending disposal of
the Criminal Appeal.
Prayer in Crl.M.P.No. 3402 of 2025: This petition is filed under section 374 of
Cr.P.C to set aside the conviction and sentence imposed by judgment dated
20.11.2023 passed in CC.No.6 of 2020 by the Special Court for Trial of TNPID
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Crl.MP.Nos.3399, 3400 & 3402 of 2025
Cases, Chennai.
In all the petitions
For Petitioner(s): Mr.B. Kumar,Senior counsel for Mr.S.Murugan
For Respondent(s): Mr.L.Baskaran, Government Advocate
ORDER
Petitioner in Crl.M.P.No.3399 of 2025 who is arrayed as A10 has filed this petition to suspend the sentence imposed on the petitioner by the order and Judgment dated 20.11.2023 in CC.No.6/2020 by the learned Special Judge for TNPID Act, Chennai and enlarge the petitioner on bail pending disposal of the Criminal Appeal.
Petitioner in Crl.M.P.No.3400 of 2025 who is arrayed as A12 has filed this petition to suspend the sentence imposed on the petitioner by the order and Judgment dated 20.11.2023 in CC.No.6/2020 by the learned Special Judge for TNPID Act, Chennai and enlarge the petitioner on bail pending disposal of the Criminal Appeal.
9/18 https://www.mhc.tn.gov.in/judis Crl.MP.Nos.3399, 3400 & 3402 of 2025 Petitioner in Crl.M.P.No.3402 of 2025 who is arrayed as A33 has filed this petition to set aside the conviction and sentence imposed by judgment dated 20.11.2023 passed in CC.No.6 of 2020 by the Special Court for Trial of TNPID Cases, Chennai.
2. The case of the prosecution is that the 4 th accused started 17 companies and devised four deposit schemes and in all the schemes the 4 th accused had collected huge amounts from the general public by promising to give higher rate of interest. Thereafter they had committed default and failed to re-pay amount of the interest as promised by them. On the complaint the respondent registered a FIR and filed a final report after completing the investigation as against 34 accused persons. As per the final report there are totally 587 depositors. The accused 4 to 7 started a number of shell companies i.e A2,A3,A8 and A31 which were promoted by A2 to A4, A18 and A31 are called bogus companies and the schemes for deposits were started only to cheat the general public, thereby they dishonestly misappropriated the public funds by portraying them as genuine. The fourth accused has appointed A9 to A14, A32 to A34 as Directors of his Shell companies and diverted public money to his own benefit and to the benefit 10/18 https://www.mhc.tn.gov.in/judis Crl.MP.Nos.3399, 3400 & 3402 of 2025 of his family members who are also arrayed as accused A15 to A17. Accused A4 and A7 had showed their credentials, educational background and past experience to induce the general public to invest in the schemes of the first accused company name by M/s Viswapriya ( India) Ltd, A9 to A14 and A32 to A34 acted as authorised agents for A4. They collected huge money by promising that they will repay huge interest. The Shell companies were also used as layers to siphon off funds as loans and bogus transfers with a view to dishonestly misappropriate, fraudulently remove and conceal properties in various entities by purchasing immovable properties, shares and other assets for the benefit of A4 and his family members i.e A15 to A17. Thereby all the accused had committed offence of criminal conspiracy of forgery for the purpose of cheating, dishonest misappropriation, fraudulent removal and concealment of property. They had collected money from 587 depositors under 3804 deposits which comes to the tune of Rs.47,68,92,011/- and they committed default by non payment of the matured amount of Rs.51,47,29,861/-. Therefore, they are charged and convicted for the offence u/s 120B r/w 420 of IPC, 406, 409 r/w 109, 468 and 471 of I.P.C and Section 5 of the Tamil Nadu Protection of Interest of Depositors. After full fledged Trial, the Trial Court convicted the accused. Aggrieved by the same, the petitioners have filed this petition. 11/18 https://www.mhc.tn.gov.in/judis Crl.MP.Nos.3399, 3400 & 3402 of 2025
3. Petitioner in Crl.M.P.No.3399 of 2025/A10 is convicted and sentenced for A1 Financial Establishment, A2,A3, A20,A22,A25,A28,A29,A30,A32 companies u/s 5 of TNPID Act, 1997 ( for 446 counts) to undergo rigorous imprisonment for 10 years ( Ten) years for each count, 10 times and to pay a fine of Rs.50,000/- ( Rupees Fifty Thousand only) for each counts 10 times ( 446x50,0000 10 times + 22,30,00,000) and U/s 120(b) r/w Section 420 of IPC to undergo rigorous imprisonment for 4 ( four ( years) imprisonment 10 times and to pay a fine of Rs.10,000/-( Rupees Ten Thousand Only) 10 times and U/S 406 to undergo rigorous imprisonment for 2 ( Two) years 10 times and to pay a fine of Rs.10,000( Rupees Ten Thousand Only) 10 times. In default of payment of fine, A10 shall further undergo simple imprisonment for a period of 6 months for each default. The total fine amount is Rs.22,33,00,000/- ( 22,30,00,000 + 3,00,000). A10 shall pay the total fine of Rs.22,33,00,000/- ( Twenty Two Crores Thirty Three Lakhs only)
4. Petitioner in 3400 of 2025/A12 is convicted and sentenced for A1 Financial Establishment, A3, A22, A23, A24, A25, A26, A28, A29,A30, A31 Companies U/s 5 of TNPID Act, 1997 ( for 446 counts) to undergo rigorous 12/18 https://www.mhc.tn.gov.in/judis Crl.MP.Nos.3399, 3400 & 3402 of 2025 imprisonment for 10 years ( Ten) years for each count, 11 times and to pay a fine of Rs.50,000/- ( Rupees Fifty Thousand only) each counts 11 times ( 446x50,0000 x11 times + 24,53,00,000) and U/s 120(b) r/w Section 420 of IPC to undergo rigorous imprisonment for 4 ( four ( years) imprisonment 11 times and to pay a fine of Rs.10,000/-( Rupees Ten Thousand Only) 11 times and U/S 406 to undergo rigorous imprisonment for 2 ( Two) years 11 times and to pay a fine of Rs.10,000( Rupees Ten Thousand Only) 11 times. In default of payment of fine, A12 shall further undergo simple imprisonment for a period of 6 months for each default. The total fine amount is Rs.24,56,30,000/- ( 24,53,00,000 + 3,30,000). A12 shall pay the total fine of Rs.24,56,30,000/- ( Twenty Two Crores Fifty Six Lakhs and Thirty Thousand only)
5. Petitioner in Crl.M.P.No. 3402 of 2025/A33 is convicted and sentenced for A1 Financial Establishment A20, A23 and A24 Companies U/s 5 of TNPID Act, 1997 ( for 446 counts) to undergo rigorous imprisonment for 10 years ( Ten) years for each count 4 times and to pay a fine of Rs.50,000/- ( Rupees Fifty Thousand only) each counts 4 times ( 446x50,0000 x4 times = 8,92,00,000) and U/s 120(b) Section 420 of IPC to undergo rigorous 13/18 https://www.mhc.tn.gov.in/judis Crl.MP.Nos.3399, 3400 & 3402 of 2025 imprisonment for 4 years imprisonment 4 times and to pay a fine of Rs.10,000/- ( Rupees Ten Thousand Only) 4 times and U/S 406 to undergo rigorous imprisonment for 2 ( Two) years 4 times and to pay a fine of Rs.10,000( Rupees Ten Thousand Only) 4 times. In default of payment of fine, A33 shall further undergo simple imprisonment for a period of 6 months for each default. The total fine amount is Rs.8,93,20,000/- ( 8,92,00,000+1,20,000). A33 shall pay the total fine of Rs.8,93,20,000( Rupees Eight Crores Ninety Three Lakhs and Twenty Thousand Only )
6. Mr.B, Kumar, the learned senior counsel appearing for the petitioners submitted that the sentence imposed on the similarly placed persons were suspended by this Court on certain conditions. The petitioners are also standing in the same footing and they are in incarceration from the date of Judgment i.e 20.11.2023. Even according to the case of the prosecution, no single piece of evidence was placed to implicate the 10 th accused as an accused and no one has spoken about the specific overtact of A10,A12 and A33. He further submitted that A10 is 76 years old and he is a retired bank employee and he was not involved in any of the allegations as alleged by the prosecution. A12 is aged 14/18 https://www.mhc.tn.gov.in/judis Crl.MP.Nos.3399, 3400 & 3402 of 2025 about 57 years and he is engaged in pharmacy business and he has been falsely implicated in this case. A33 is 53 years and not a Director of the company and only after the period of offence he was inducted as a Director.
7.Considering the submissions of the learned counsel appearing on either side coupled with the quantum of punishment imposed upon the petitioner and taking into consideration the fact that this criminal revision is not likely to be taken for final hearing in the near future, this Court is of the view that the substantive sentence of imprisonment alone can be suspended on certain conditions. Accordingly, till the disposal of the Criminal Revision Case, the reliefs of suspension of sentence and bail are granted on the following conditions:
(i) Petitioner in Crl.M.P.No. 3402 of 2025/A33 shall deposit a sum of Rs.5,00,000/- ( Five Lakhs only to the credit of CC.No.6 of 2020 on the file of the learned Special Judge for TNPID Act. Petitioners in Crl.M.P.Nos. 3399 and 3400 of 2025 who are arrayed as A10 and A12 are directed to deposit a sum of Rs.1,00,00,000/- ( Rupees one Crore only) to the credit of CC.No.6 of 2020 on the file of the learned Special Judge for TNPID Act. The petitioners are directed to deposit the said amount within a period of four weeks from today. Failing which, 15/18 https://www.mhc.tn.gov.in/judis Crl.MP.Nos.3399, 3400 & 3402 of 2025 the order passed by this Court shall stand automatically cancelled.
(ii) On the failure of the petitioner/accused depositing the above said amount, it is open to the trial Court to commit the petitioner/accused into custody for undergoing the sentence.
(iv) On the petitioners depositing the amount as stated clause
(i) supra, the sentence of imprisonment alone, imposed on the petitioners/accused, shall be suspended, on execution of a bond for a sum of Rs.1,00,000/- each with two sureties, each for a likesum to the satisfaction of the trial court;
(v) The petitioners and the sureties shall affix their photographs and Left Thumb Impression in the surety bond and the trial Court may obtain a copy of their Aadhar card or Bank pass Book and mobile numbers to ensure their identity;
(vi) The petitioners shall appear before the Trial Court on the first working day of every English Calendar month at 10.30 a.m., until the disposal of the revision petition and if he they did not able to appear before the trial Court on any day, he shall make arrangements to file an application under Section 355 of BNSS, 2023 and shall appear before the trial Court on any other day in lieu of the date of his absence, as directed by the trial Court;16/18
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8. With the above directions, these Criminal Miscellaneous Petitions are ordered.
24. 04.2026 Index: Yes/No Speaking/Non-speaking order Neutral Citation: Yes/No smn To.
1. The Special Court for Trial of TNPID Cases, Chennai.
2. The Deputy Superintendent of Police, Economic Offences Wing-II, Guindy Chennai -32
2. The Public Prosecutor, High Court, Chennai.
3. The Superintendent Central Prison 1, Puzhal, Chennai. 17/18 https://www.mhc.tn.gov.in/judis Crl.MP.Nos.3399, 3400 & 3402 of 2025 G.K.ILANTHIRAIYAN, J.
SMN CRL MP Nos. 3399, 3400 and 3402 of 2025 IN CRL A NOs. 1456,1483 and 1434 OF 2023 24.04.2026 18/18 https://www.mhc.tn.gov.in/judis