Masala brand owner arrested for dodging payment of Rs 94 lakh

A R Ramasamy, 49, owner of ‘Ravanan’ brand masala and a resident of Selaiyur was arrested based on a complaint from S Gnanavel, fruit trader. Gnanavel had participated in a Rs 1 crore chit run by Ramasamy, by paying Rs 5 lakh every month for 20 months. Two years ago, Ganavel won the bid for the eighteenth month’s chit, valued at Rs 93.5 lakh. As Ramasamy dodged the payments over the last months despite repeated requests, Gnanavel approached the city crime branch official with a complaint.

“Not only did he dodge the payment, he also threatened Ganavel,” police said. Based on the complaint, the officials arrested Ramasamy under related IPC section of chit and usury and remanded him to judicial custody.