Some success stories inspire us with hope and determination, showing that with perseverance and hard work, it is possible to clear competitive exams and achieve a good rank. Meanwhile, some stories se
Some success stories inspire us with hope and determination, showing that with perseverance and hard work, it is possible to clear competitive exams and achieve a good rank. Meanwhile, some stories serve as stark reminders that even the brightest paths can take unexpected turns, leading to downfall.
The story of R Subramanian is one of extraordinary talent and diverse achievements. Renowned as a banker, businessman, and engineer, he built a career that was widely admired. However, in a shocking twist, Subramanian now finds himself serving time in prison, a stark contrast to the heights of success he once reached. His story serves as a poignant reminder that even the most accomplished individuals can face unforeseen challenges that lead to unexpected consequences.
R Subramanian, an alumnus of IIT and a graduate of IIM, is the founder of the retail chain Subhiksha. According to the court ruling on November 20, 2023, renowned engineer R Subramanian, an IIT Madras alumnus, was found guilty by a special court in Chennai of defrauding hundreds of investors. The court determined that he had diverted their assets through a network of shell companies, leading to his conviction and a sentence of 20 years in prison.
In May 1991, Subramanian founded his company, Viswapriya, which offered financial services and attracted numerous investors with appealing schemes. In 1997, he launched Subhiksha, a retail chain that grew to over 1,600 outlets across India. However, his actions took a dark turn as he defrauded hundreds of investors by redirecting their funds through various shell companies. As a result, 587 investors are still waiting to recover their money.
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