Padma Shri awardee Sundar C Menon, a businessman from Kerala, has been arrested following complaints of alleged financial fraud, police reported on Tuesday. Menon was taken into custody by the district crime branch wing of the state police on Sunday and subsequently remanded by a local court and sent to a district prison.


Menon, who received the Padma Shri in 2016, is facing 18 cases of financial fraud related to accepting deposits from individuals through two firms where he served as one of the directors. According to the police, Menon allegedly collected Rs 7.78 crore from various investors but failed to return the money after the maturity period of the schemes, according to a report on PTI.


The fraud involved over 62 investors, and Menon's actions were in violation of Reserve Bank of India (RBI) norms, according to a police statement. The statement added, "There were 18 cases registered against the accused at the West Police station here," with the investigation later being transferred to the Crime Branch.


Under the BUDS (Banning of Unregulated Deposit Schemes) Act, Menon's and other directors' properties have been frozen, and steps are being taken to attach them, as per the report.


Meanwhile, Menon also served as the president of the Thiruvambady Devaswom, one of the organizers of the renowned Thrissur Pooram festival. He is sixty-three-year-old.


In 2016, he received the Padma Shri in recognition of his contributions to social work. Originally from Thrissur, Menon, a non-resident Indian businessman, has faced multiple legal cases. Furthermore, in 2015, Menon was awarded an honorary doctorate by the European Continental Community University in the United States and was also recognized at the Asia Pacific Entrepreneurship Awards.


He is also associated with several charitable cause including the Autism Society, the Alpha Pain Clinic and the All India Handicapped Association.


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