'Power Star' Srinivasan held in cheating case
By Express News Service - CHENNAI
15th September 2012 08:28 AM
Film actor ‘Powerstar’ Srinivasan was arrested by Kilpauk police on charges of breach of trust, here on Friday.
Sources said G U Balasubramanian, a businessman and proprietor of UBS International, had approached the actor seeking Rs 10 crore to expand his business. The actor had been providing finances through Baba Trading Company, located on Poonamallee Road. Srinivasan told Balasubramanian that he would have to pay him 5 per cent of the total loan amount as service charge and 1.5 per cent towards other expenses.
On getting Srinivasan’s assurance, Balasubramanian paid the actor Rs 65 lakh, a few months back. However, Srinivasan did not release the funds to UBS International as promised. A petition had been filed before the City Police Commissioner four months back and it was forwarded to Kilpauk police station for further action.
Subsequently, a case had been registered and Srinivasan was apprehended while on his way to attend a private function. After interrogation, he was produced before a court and was remanded to Judicial Custody. Police said two similar complaints against the actor were under investigation.
Srinivasan had starred in the movie ‘Lathika’, which failed at the box office.
- South block watch
- Greasepaint fails to hide K-town tension
- T M Soundararajan: An Alchemist who mixed melodies with emotions
- Srinivasan's Kolkata connect
- Organ transplant: Online network to connect donor, recipient
- UPA-II anniversary: No honest appraisal
- Woolwich attack provokes anti-Muslim backlash across UK
- Bangladesh allows transit for foodgrains for Northeast India
- Raids on six officials reveals huge stash
- Experts push for blanket ban on tobacco promotion
- Maoist attack: Kidnapped Chhattisgarh Congress chief, son found dead, toll 27
- Sonia shocked, PM offers help to Raman
- Vidya Balan to go gangsta?
- Now, Delhi police go after eight Kings XI Punjab players
- Siddaramaiah inducts SR Patil into Karnataka State Cabinet
- Maths paper puzzles CBSE Class XII students