Thiruvananthapuram: The Directorate of Enforcement (ED) on Thursday took now-expelled local CPI leader N Bhasurangan's son Akhiljith into custody in connection with the Kandala Service Cooperative Bank fraud. ED officials summoned AKhiljith while interrogating Bhasurangan, who is the former president of the cooperative bank.
Akhiljith reached for questioning in a luxury car. ED officials examined the vehicle's RC book. They also raided the Kandala Services Cooperative Bank near Kattakada and several other locations, including the residence of Bhasurangan.
The CPI's district secretary said that Bhasurangan was stripped of his primary membership in light of the recent developments. The party alleged that Bhasurangan's close association with top CPI and CPM leaders helped him pull off the huge fraud. There are also allegations that he made monthly payments to these leaders in exchange for their wilful ignorance in the matter.
Bhasurangan was also removed from the position of Convenor of the Administrative Committee of the Kerala Co-operative Milk Marketing Federation (KCMMF), which sells products under the trade name of Milma. His removal from Milma was announced by the state Minister for Animal Husbandry, Dairy Development and Milk Co-operatives J Chinchu Rani.
The Department of Cooperation had detected malpractices amounting to Rs 101 crore at the Kandala bank, which owes Rs 173 crore to its depositors. It also has an outstanding loan payment of Rs 69 crore.
The ED raided the bank and residences of former bank secretaries on Wednesday in association with the loan fraud case. Raids were held at the houses of former secretaries Shantakumari Rajendran and Mohan Chandran, as well as the residence of a collection agent, Ani.
