How Subhiksha's IIM-educated promoter was slapped a 20-year sentence for duping elderly investors

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R Subramanian, founder Subhiksha, Retail Chain, holding food packs, at outlet in Chennai, India.

Synopsis
A special court in Chennai has handed out a 20-year prison sentence to R Subramanian for duping hundreds of investors of Viswapriya India and siphoning off their investments through numerous shell companies. Though a compensation of INR180 crore has been ordered, a long journey lies ahead for investors.

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. Stay Hungry, Stay Foolish, a book by Rashmi Bansal in 2008 had featured Subramanian among 25 successful IIM-Ahmedabad alumni. A gold medallist Engineer from IIT Madras, Subramanian was hired by Citibank soon after