Chennai: A bank fraud accused, declared a proclaimed offender by a court, was arrested by the Central Bureau of Investigation (CBI) after being on the run for nearly 15 years.
The CBI registered a on January 21, 2010, based on a complaint alleging that the directors of M/s Sun Bio Manure Pvt Ltd, Chennai, fraudulently availed loan of Rs 201.63 lakh from Indian Bank, Veerapandi Branch, Salem district, Tamil N
adu for vermi culture and dairy farming activities.
The directors obtained the loan by mortgaging . It was subsequently realised that the property mortgaged did not belong to the company or any of its directors. The bank was thus cheated out of Rs 2.01 crore.
The CBI completed investigation and filed a chargesheet against M/s Sun Bio-Manure Pvt Ltd, S Sakthivel, S Vijayakumari, P Arokiasamy and S Balasubramaniyan, branch manager, Indian Bank.
“The main case concluded in conviction and the case was split against P Arokiasamy as he was absconding since registration of the case. The address which he provided to the bank was also found to be false. A non-bailable warrant was issued against P Arokiasamy. A CBI Court in Coimbatore declared him as a Proclaimed Offender in 2011,” a statement released by the agency said.
Arokiasamy was finally arrested by the CBI, which continued to remain on his tail for the last 15 years.
“He was produced before the competent Court and has been sent to judicial remand till 19.06.2026,” the CBI said.