HC grants bail to Madhan
Justice P.N. Prakash granted bail to Madhan on executing a bond for Rs. 50,000 with two sureties.
The judge also observed that PMLA is a welcome legislation, “but it is a sledge-hammer and should not be used to crack nuts, lest, it should earn the wrath of the common man. It should be used against sharks and not shrimps.”
Madhan was arrested in a higher education scam, where he allegedly collected Rs. 91 crore from parents of students seeking admission to SRM Medical College in 2016.
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