CHENNAI: The Madras High Court has rejected bail pleas from three business people from Villupuram, who were apprehended for offences under various sections of the IPC, including cheating and criminal intimidation. No grounds were made to grant any relief, Justice S Palanivelu said while dismissing the bail applications from S Annamalai, A Subramanian and SP Kalyani, recently. Following a complaint from financier S Mohan Kumar of Sowcarpet, the Villupuram police registered cases against the trio and another woman Valliamma. The charge against them was that they had availed a loan of Rs 5.68 crore from Mohan Kumar on depositing the original deeds of title of their properties. They got back the original documents, on the promise that they would sell properties and settle the dues to Mohan Kumar. They executed a guarantee affidavit-cum-indemnity bond in October, 2010. However, they mortgaged and sold out some of the properties to third parties and did not settle dues. Mohan Kumar lodged a complaint, based on which the Villupuram police registered a case.
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