Sundar C. Menon, a prominent businessman and Padma Shri awardee, has been arrested for allegedly defrauding investors of ₹7.78 crore through two companies, Heewan Nidhi and Heewan Finance. The Thrissur Crime Branch took him into custody after receiving 18 complaints from 62 investors who claimed Menon accepted deposits but failed to return them upon maturity, violating Reserve Bank of India regulations. Menon, who was involved in various charitable activities, has had his assets frozen under the BUDS Act, and steps are being taken to seize them. Another director of the companies, Puthenveettil Biju Manikandan, was also arrested. A Public Interest Litigation seeking to revoke Menon's Padma Shri was filed but denied by the Kerala High Court due to lack of public interest. Menon, aged 63, remains in judicial custody as investigations continue.