Two Kerala builders in judicial custody
Kottayam: Two Kerala builders who were on the run after allegedly duping more than 2,000 customers surrendered Saturday before a local court which sent them to judicial custody.
Saju Kaduvilan and Rajiv Kumar Cheruvareyum, of Kochi-based Apple A Day properties, appeared before the Ponkunnam court in Kottayam district along with their counsel and were sent to two weeks' judicial custody.
The two builders, both in their 30s, were on the run after police issued lookout notices against them for duping hundreds of investors who booked flats in their projects.
Police were under pressure from the investors to arrest the builders who spoke to TV channels from undisclosed locations. The two builders told channels that they had no intention to cheat the investors.
Middle East investors
Their surrender comes two days before their bail plea is scheduled to come up before the Kerala High Court Monday. A lower court earlier refused to give them anticipatory bail.
Many of the clients of Apple A Day properties are non-resident Keralites (NRKs) based in the Middle East.
Chief Minister Oommen Chandy last week held a video conference with investors abroad and assured them that the government would ensure that justice was delivered.
Chandy also decided to appoint a prosecutor who would address non-resident Keralites' questions on the internet.
Police were also investigating the role of banks which gave loans to investors. Some banks informed police that the two builders withdrew the entire money from their accounts.