‘Powerstar’ Dr Srinivasan, who was on Friday arrested by the Chennai Police on charges of cheating a businessman of Rs 65 lakh, was remanded in judicial custody and lodged in Puzhal prison.
The doctor-turned-actor was arrested on a complaint by GU Balasubramanian, a businessman and proprietor of UBS International, who had approached the actor seeking Rs 10 crore to expand his business.
In his complaint, Balasubramanian said that Srinivasan told him 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.
Subsequently Srinivasan took the money, but failed to obtain the loan and kept dodging the businessman. Based on the complaint, police registered a case under IPC Section 406 (punishment for criminal breach of trust), 420 (cheating) and 506 (ii) (criminal intimidation) 27 Arms Act, and arrested Srinivasan.