Thrissur: The scam-hit Karuvannur Cooperative Bank at Irinjalakuda here requires Rs 141 crore immediately to pay depositors whose deposits have matured, according to a report.
A high-level committee that probed the irregularities, however, reported that the bank has only Rs 7 lakh in its kitty, much less than what it owes the depositors.
Auditors earlier found that the scam involved about Rs 300 crore. CPM leaders have been named as accused in the case.
The leaders promised that depositors will be returned their money from a funding by a consortium. However, meeting the promise will not be easy.
An expert committee had recommended the bank to utilize Rs 45 crore out of the first funding installment of Rs 50 crore to garner more revenue, and repay the depositors over a period of time.
Though the auditors had reported that about Rs 300 crore had been diverted, an inspection by a high-level committee set up by the Cooperative Department pegged the amount at Rs 226.78 crore.
The report also accused the Cooperative Department of failing in finding the irregularities.
The bank has to repay Rs 312 crore, including fixed deposits of Rs 283 crore, to the depositors.
Of the fixed deposits, accounts worth Rs 141 crore have now matured, according to a reply provided to an application filed under the Right to Information (RTI) Act by BJP leader T K Shaju.
