Wayanad: With local body elections approaching, discontent is intensifying in Wayanad as hundreds of CPM sympathisers who deposited substantial sums in the CPM-controlled Brahmagiri Development Society (BDS) have launched an open campaign against the Left Democratic Front (LDF). Under the slogan “No Vote for LDF”, depositors say they were misled into trusting a party-backed institution that has failed both to return their capital and to pay the monthly interest that many relied upon.

Households have put up flex boards declaring “Brahmagiri Scam – No Vote for LDF”, signalling a direct backlash from long-time party workers and supporters. The CPM is reportedly struggling to address the anger, with no clear assurances to offer. The BDS, a quasi-government cooperative under the Department of Dairy Development, has state government representation on its governing body and receives annual budgetary support. It also mobilised funds from Left sympathisers, many of them retired state employees, who deposited their retirement benefits believing their money was safe under a party-controlled institution.

Trouble began in 2022 when monthly interest payments stopped, leaving pensioners dependent on that amount unable to meet additional expenses. Their repeated attempts to retrieve their deposits met with excuses from officials and indifference from district and state leaders. With no response to their representations, the depositors decided to withdraw electoral support from the LDF.

“We are taking this painful decision after decades of loyalty,” said M R Mangalan, secretary of the Brahmagiri Depositors’ Action Council. He said that years of discussions, token strikes and protests failed to elicit even a basic commitment from party leadership. According to him, it was senior CPM leaders who personally persuaded supporters to invest in the BDS, assuring them of steady interest and immediate access to their capital.

Many depositors, mostly pensioners formerly affiliated with pro-Left trade unions, recently marched to the BDS headquarters in Pathiripalam, demanding immediate repayment. The Action Council claims more than ₹100 crore is owed to over 500 depositors, including former soldiers, teachers, police personnel, non-teaching staff, clerks and small business owners.

Action Council treasurer C A Jose said the agitation will now extend to other districts, as victims are also located in Kasaragod, Kannur, Kozhikode, Malappuram and Palakkad. He added that BDS officials repeatedly cite the proposed reopening of the Malabar Meat plant as a solution but have not offered any assurance regarding repayment.

Meanwhile, the CPM leadership is concerned about the growing dissent and is reportedly attempting to resolve the issue discreetly. A senior BDS official, requesting anonymity, said repayment could begin once the Malabar Meat plant restarts and new investment arrangements are finalised. Reports also suggest a possible MoU with Cedar Integrated Food Tech Private Limited (CIFTL) under the ESAF group.

Founded in 1999 by CPM leader P V Varghese Vaidyar, BDS expanded significantly under chairman P Krishna Prasad and recorded a turnover of ₹36 crore in 2019 before suffering major losses during the COVID-19 pandemic.