By PTI
THRISSUR: The Enforcement Directorate (ED) on Wednesday carried out raids at areas linked to the accused within the Rs 300 crore Karuvannur Cooperative financial institution rip-off, which triggered a political row in Kerala lately.
Sources within the ED advised PTI that searches have been performed concurrently on the residences of all of the 5 accused on this district.
“The officials from the ED unit in Kochi conducted the searches and other details cannot be divulged right now,” they mentioned.
The motion comes at a time when the agitated depositors are on a warpath in opposition to the administration of the ruling CPI(M)-controlled Karavannur Cooperative financial institution, situated at Irinjalakuda, demanding a return on their funding.
The Opposition Congress had lately urged Chief Minister Pinarayi Vijayan handy over the investigation into the Cooperative financial institution rip-off to CBI, alleging that there was not a lot progress within the ongoing probe by the state companies.
After a short interval, the financial institution once more sparked controversy final month over the dying of a girl depositor, whose household had alleged that she was denied cash for superior therapy by the administration regardless of having lakhs of rupees as deposit within the financial institution.
They additionally staged a protest sit-in in entrance of the financial institution with the lady’s physique, following which opposition events got here out in opposition to the ruling CPI(M) which controls the financial institution.
The mortgage rip-off was reported within the financial institution, situated in Thrissur district, in July 2021, following which a case was registered in opposition to six financial institution officers and an inquiry was launched.
After a number of folks together with native prospects raised apprehensions in regards to the financial institution’s functioning, an audit was performed there lately, through which the fees have been reportedly discovered to be true.
During the inspection, it was additionally discovered that loans have been sanctioned on the property pledged by native prospects with out their data and the mortgage quantity was credited a number of occasions to the choose account.
Following allegations, the 13-member committee of the Marxist party-ruled financial institution was disbanded.
THRISSUR: The Enforcement Directorate (ED) on Wednesday carried out raids at areas linked to the accused within the Rs 300 crore Karuvannur Cooperative financial institution rip-off, which triggered a political row in Kerala lately.
Sources within the ED advised PTI that searches have been performed concurrently on the residences of all of the 5 accused on this district.
“The officials from the ED unit in Kochi conducted the searches and other details cannot be divulged right now,” they mentioned.
The motion comes at a time when the agitated depositors are on a warpath in opposition to the administration of the ruling CPI(M)-controlled Karavannur Cooperative financial institution, situated at Irinjalakuda, demanding a return on their funding.
The Opposition Congress had lately urged Chief Minister Pinarayi Vijayan handy over the investigation into the Cooperative financial institution rip-off to CBI, alleging that there was not a lot progress within the ongoing probe by the state companies.
After a short interval, the financial institution once more sparked controversy final month over the dying of a girl depositor, whose household had alleged that she was denied cash for superior therapy by the administration regardless of having lakhs of rupees as deposit within the financial institution.
They additionally staged a protest sit-in in entrance of the financial institution with the lady’s physique, following which opposition events got here out in opposition to the ruling CPI(M) which controls the financial institution.
The mortgage rip-off was reported within the financial institution, situated in Thrissur district, in July 2021, following which a case was registered in opposition to six financial institution officers and an inquiry was launched.
After a number of folks together with native prospects raised apprehensions in regards to the financial institution’s functioning, an audit was performed there lately, through which the fees have been reportedly discovered to be true.
During the inspection, it was additionally discovered that loans have been sanctioned on the property pledged by native prospects with out their data and the mortgage quantity was credited a number of occasions to the choose account.
Following allegations, the 13-member committee of the Marxist party-ruled financial institution was disbanded.
