Director Shrikumar Menon held in alleged financial fraud case

Alappuzha: Noted Malayalam director V A Shrikumar Menon has been arrested in a case of financial fraud amounting to Rs 7 crore, says Alappuzha South police station officers on Friday.

As per the police, the arrest was made on a complaint filed by Rajendran Pillai of the Sreevalsam business group, alleging Shrikumar of taking the money to make a film but made no progress with the project.

The 'Odiyan' director has been charged under sections 406 (punishment for criminal breach of trust) and 420 (cheating and dishonestly inducing delivery of property) of the Indian Penal Code.

Shrikumar has however denied the news of his arrest and stated that it was only a loan repayment dispute between two individuals, which was amicably resolved before court after the lender was informed abouts his financial problems, in a press release issued today.

Earlier, actor Manju Warrier, who had worked with Shrikumar, had filed a complaint on him with the state police chief Loknath Behera saying that he was trying to defame her through organised social media campaigns against her.