Balasubramanian said he never got the loan. Police said Balasubramanian had approached the actor's finance company, Baba Trading, on Poonamalle High Road to arrange the cash to help him expand his business six months ago. The actor told the businessman that he would charge 5% as service charge for getting the loan. Subsequently he took the money claiming that the amount is towards documentation charges and commission.
"He failed to obtain the loan and kept dodging the businessman. He promised to return the sum when the complainant warned him of approaching us," said an investigating officer. Bala Surbamanian in his complaint alleged that he was threatened at gunpoint when he approached Srinivasan at his Anna Nagar residence.
Police have registered a case under IPC Section 406 (punishment for criminal breach of trust), 420 (cheating) and 506 (ii) (criminal intimidation) 27 Arms Act. He was remanded in judicial custody and lodged in Puzhal prison. Police said several others had earlier gone to them with complaints against Srinivasan, but they all arrived at a compromise. On May 4, a Saidapet resident called Ganesan lodged a complaint that Srinivasan had taken 10 lakh promising a loan.
The police are investigating into the matter and are also probing the possibility of this being a 'false case' foisted by Srinivasan himself in order to garner some’ publicity.
Srinivasan is a physician who directed and acted in the movie Lathika (2011). He later made guest appearances in movies like 'Mandapam,' 'Unakkaga Oru Kavithai,' 'Neethana Avan' and 'Indrasena.' He is working on the film 'Kanna Laddu Thinna Asaiya' with Santhanam in the lead role.