The Hindu : Final arguments in SPIC case conclude

Online edition of India's National Newspaper
Tuesday, Jan 13, 2004

Tamil Nadu

Tamil Nadu

Final arguments in SPIC case conclude

By Our Special Correspondent

CHENNAI, JAN. 12. Final arguments in the "Southern Petrochemical Industries Corporation (SPIC) disinvestment scam" case concluded in the court of special judge-I, R. Rajamanickam, on Monday.

The case has been adjourned to January 19. The date for pronouncing the judgment could not be fixed in view of a Supreme Court order.

Besides former Chief Minister, Jayalalithaa, cited as the main accused, the other accused are former Industries Secretary, C. Ramachandran, and industrialist, A.C. Muthiah.

The prosecution case is that Ms. Jayalalithaa and Mr. Ramachandran abused their official position in favour of M.A. Chidambaram (since deceased) and his son, Mr. Muthiah, to bring back Mr. Chidambaram as Chairman of SPIC and to renounce Tamil Nadu Industrial Development Corporation's (TIDCO) rights in the "Zero Conversion Bond" of the joint sector company. This caused a wrongful loss to government.

Printer friendly page
Send this article to Friends by E-Mail

Tamil Nadu

News Update

Stories in this Section

PMK also leaves NDA to join DMK front

DMK puts together a formidable alliance

Give verdict before June 30, Division Bench tells POTA court

Vaiko to move bail application today

State seeks leave to notify procedure

`It will be a coalition government at the Centre'

`Congress united in making Sonia PM'

Human chain against water for Chennai

Pre-paid taxi service asked to wind up, passengers put to `hardship'

`Release fishermen imprisoned in Sri Lanka'

Final arguments in SPIC case conclude

Briefly