Padma Shri Awardee Sundar C Menon Arrested for Financial Fraud

Kerala businessman and Padma Shri awardee Sundar C Menon has been arrested for alleged financial fraud. Menon faces 18 cases related to accepting Rs 7.78 crore from investors without returning the money. His properties have been frozen as per the BUDS Act, and steps are being taken to attach them.

Kerala businessman and Padma Shri awardee Sundar C Menon has been taken into custody over complaints of alleged financial fraud, police revealed on Tuesday.

Menon, 63, was apprehended by the district crime branch unit on Sunday and subsequently remanded in district prison by a local court. The police disclosed that Menon, honored in 2016, is implicated in 18 financial fraud cases involving the acceptance of deposits under false pretenses through two firms where he served as a director.

According to reports, Menon collected Rs 7.78 crore from over 62 investors, violating Reserve Bank of India (RBI) norms by failing to return the funds upon maturity. Authorities have frozen his properties under the BUDS Act and plan to seize them. Additionally, Menon held the position of president at Thiruvambady Devaswom, an organizer of the renowned Thrissur Pooram festival.