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Subhiksha was a discount department store chain with 1600 outlets in India, founded in 1997 by Subramanian. It closed down in 2009 due to financial mismanagement and a cash crunch.
Nov 24, 2023 · R Subramanian, an IIM and IIT alumnus, was convicted by a special court in Chennai for duping hundreds of investors and diverting their investments through various shell companies. He was sentenced to 20 years in prison and fined Rs 8.92 crore, while his entities were fined Rs 191.98 crore.
Nov 24, 2023 · At the peak of his prowess in the 2000s, IIT and IIM-educated R Subramanian had charmed marquee private equity investors and billionaire family offices into attractive investment deals in his retail venture Subhiksha Trading Services.
Nov 25, 2023 · R. Subramanian, the mastermind behind the retail giant Subhiksha, has been sentenced to 20 years in prison for orchestrating a sophisticated fraud that duped hundreds of investors.
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R Subramanian, the founder of the retail chain Subhiksha and an alumnus of IIT with a degree from IIM, has been sentenced to a 20-year prison term for defrauding investors.
Aug 25, 2011 · When Subhiksha toppled over and sought restructuring of its loans, the world was in the middle of its biggest economic downturn since the 1930s. The company claimed that its entire inventory was looted by miscreants and spiteful employees, and projected itself as a victim of circumstances.
Nov 27, 2023 · A special court in Chennai has sentenced R Subramanian, the founder of the retail chain Subhiksha, to 20 years in prison for duping hundreds of investors of their hard-earned money. The court convicted Subramanian and his associates under the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act.
