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Shareholder slaps defamation suit on BEML chief VRS Natarajan

KS Periyaswamy has filed a criminal defamation case against him in the court of 9th additional chief metropolitan magistrate of Bangalore.

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After facing allegations of being involved in a scam linked to the purchase of components for Tatra trucks, VRS Natarajan, chairman and managing director of Bharat Earth Movers Limited (BEML), is in the news again.

KS Periyaswamy, a shareholder of BEML, has filed a criminal defamation case against him in the court of 9th additional chief metropolitan magistrate of Bangalore.

In his petition, Periyaswamy alleged that Natarajan had defamed him while replying to his questions at the 46th annual general body meeting held on August 13, 2010. Natarajan, instead of giving a satisfactory explanation, allegedly tried to defame Periyaswamy, according to the complaint, a copy of which is in possession of DNA.

“He (Periyaswamy) appears to be suffering from psychological problems or mental disorder as informed by his associates and also going by his (Periyaswamy) behaviour and conduct,” Natarajan had allegedly said then.

The petitioner said he had earlier complained to president Pratibha Patil, demanding immediate removal of Natarajan from the post of CMD. He said Natarajan misused his official quarters in Bangalore by allegedly converting it into a registered office of his family company, Champion Textiles Limited. Natarajan’s wife Shanthi Natarajan, along with his two daughters, were directors of the company, Periyaswamy said in his complaint.

He filed the petition under sections 500 and 501 of Indian Penal Code for defamation with plea for imposing maximum sentence provided under the law, including fine, to Natarajan.

DNA, in its edition dated July 22, had brought to light alleged irregularities in the purchase of components for Tatra Trucks, the backbone of Indian Army’s artillery and transportation wing.

Natarajan had allegedly routed the money earned as commission from the procurement of Tatra truck components through Champion Textiles Limited (CTL).

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