Thiruvananthapuram: The LDF CPI (M) government in Kerala on Friday faces opposition heat in the State Assembly of the Amulti-Crore loan fraud that emerged in a cooperative bank controlled by the party, as stored by party leadership.
Scandal under Wraps even though they have clear knowledge of fraud.
Increasing this problem during zero time, Congress-UDF wants home to be postponed to discuss the problems they call “the biggest bank robbery” in the history of the southern state.
Although the fraud was revealed in 2018, the Bank Cooperative Council of the Karavannur Cooperative in Irinjalakuda in Thrissur Regency was only dismissed on Thursday, they said they confirmed their allegations that the Marxist party made a decision to maintain the secret of fraud.
“What did you do in three years,” asked the opposition leader V D Sathean.
The crime even embarrassed the Popular Heist series released on the OTT platform, they mocked before walking out of the house that protested the speaker M Bajesh action denying leave for the delay movement.
In his reply, the Minister of Cooperation V N Vasavan, however, denied the allegations and said the government acted immediately and seven bank employees, who were allegedly involved in fraud, had been suspended.
Complaints in this case was submitted for the first time on January 16, 2019 and the police registered a case within a week.
On allegations of delays deactivating the Bank’s government council, the minister said there were several compulsory processes followed, including investigating, before doing so.
The irregularities are estimated to reach more than Rs 104 Crore, said minister.
“The crime branch probe progressed in the incident.
The cooperation department also conducted a separate investigation,” Vasavan added.
Legislator Syafi Parbambang, which presents a notification for that motion, allegating that the powerful CPI (M) has led to the biggest bank robbery in the country’s history.
The situation is that account holders, who have not taken a loan even one rupee, have to pay until the RS 100 Crore, he said.
Palakkad’s legislator also alleged that the party itself had conducted an investigation into fraud but save all the findings, which confirmed irregularities, under the wraps in these years.
Alleged loan scam, with a sheet of more than Rs 100 Crore, has been reported at the Karavannur Cooperative Bank after which police have registered a case against six bank officials and launched an investigation.
After several people including local customers raising concerns about bank functions, audits have been carried out there recently, where the accusation was reported completely true.
During inspections, it is also found that loans are approved on properties that are guaranteed by local customers without their knowledge and the loan amount is credited several times to the selected account.
This case was registered against bank officials, including the Secretary of Bank, which has been placed under the suspension of the charges.