Actors cum politicians Sarathkumar and his wife Radhika Sarathkumar have been sentenced to one-year imprisonment by a special court which inquires cases related to MPs and MLAs. This is in connection with seven cases filed against Sarathkumar and two against Radhika regarding failure to repay loans.
The court on Wednesday convicted the three of them and also imposed a fine of Rs 3.30 crore.
The order has come on a case of cheque fraud filed against Magic Frames, a partnership firm in which Radikaa, Sarath Kumar and Listin are partners. The petition was filed by Radiance Media, a film financing company that had loaned an amount of Rs 1.5 crore to Magic Frames in the year 2014. Additionally, Sarath Kumar had borrowed Rs 50 lakh as hand loan from Radiance Media. At the time, it was said that the amount would be spent in the making of the film titled Idhu Enna Maayam in 2015.
While the borrowed amount had to be returned by March 2015, Radiance Media alleged that the seven cheques that were issued by Magic Frames bounced at the bank and consequently seven cases were filed. Notably, the partners of Magic Frames had promised to hand over the film’s television rights or the rights of their next film if they were unable to return the money. Their properties in T Nagar too were pledged for this loan.
The couple allegedly did not repay the loans and the cheques they gave as security bounced. The Radiant Group then approached the court in 2018 and after inquiries, for almost four years the jail sentence has been ordered.