The case stemmed from a 2013 complaint, which alleged that Ravichandran, in his capacity as director of a company, had diverted a ₹30 crore loan obtained from Indian Overseas Bank to sister concerns.
Published Jul 07, 2025 | 3:23 PM ⚊ Updated Jul 07, 2025 | 3:23 PM
Madras HC
The Madras High Court has conditionally quashed a case registered by the Central Bureau of Investigation (CBI) against Tamil Nadu Minister KN Nehru’s brother, Ravichandran.
As part of the court’s order, Ravichandran has been directed to pay ₹15 lakh each to Indian Overseas Bank and the Tamil Nadu Mediation and Conciliation Centre.
The case stemmed from a 2013 complaint, which alleged that Ravichandran, in his capacity as director of a company, had diverted a ₹30 crore loan obtained from Indian Overseas Bank to sister concerns, resulting in a financial loss of ₹22.48 crore to the bank.
However, the court ruled that no fraud had occurred in the transaction and found no involvement of government officials.
