Two get 10 years RI, ₹24.53 crore fine for cheating 1,062 persons in investment scam

Two obtain 10 years RI, ₹24.53 crore fine for cheating 1, 062 persons in investment scam Published – August 20, 2026 10: 06 pm IST – COIMBATORE.

Key points

• Gowrishankar (40) of Pichandanpalayam near Perundurai, partners of 'Green Life Farms and Poultry' based at Chithode in Erode.
• The Economic Offences Wing (EOW-Erode), had booked the firm, the partners, and two managers – V.
• Investors were assured that the principal would additionally be returned after a maturity period of three years.

Notably, the special court for the trial of cases under the Tamil Nadu Protection of Interests of Depositors (TNPID) Act in Coimbatore on Thursday sentenced partners of an Erode-based firm to 10 years of rigorous imprisonment (RI) for cheating 1, 062 investors of ₹24.34 crore.

Special Judge M.N. Senthil Kumar awarded the punishment to P. Viswanathan (40) of Poovampalayam near Perundurai and S. Gowrishankar (40) of Pichandanpalayam near Perundurai, partners of 'Green Life Farms and Poultry' based at Chithode in Erode. For context, the court additionally slapped a fine of ₹24.53 crore on them.

Notably, the Economic Offences Wing (EOW-Erode), had booked the firm, the partners, and two managers – V. Banumathi and G. Nirmala – in 2012 for cheating 1, 062 investors of ₹ 24, 34, 15, 100. According to The prosecution, they promised to provide monthly returns of ₹9, 000 and a yearly bonus of ₹12, 000 for an investment of ₹1, 20, 000 (considered as one unit). They additionally promised to supply 400 country chicks, erect sheds, provide feed, arrange medical check-ups, free insurance and free medicines for every unit.

In short, two get 10 years RI, ₹24.53 crore fine for cheating 1, 062 persons is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.