LDF sweeps Karuvannur Service Co-operative Bank election after decade of administrative rule
The bank had triggered widespread controversy in the state following the detection of a major financial fraud.
The bank had triggered widespread controversy in the state following the detection of a major financial fraud.
The bank had triggered widespread controversy in the state following the detection of a major financial fraud.
The Left Democratic Front (LDF) on Sunday won all seats in the election to the Karuvannur Service Co-operative Bank. The Communist Party of India (Marxist) (CPM) secured the victory after nearly a decade of administrative rule imposed in the wake of large-scale financial irregularities. The bank had triggered widespread controversy in the state following the detection of a major financial fraud.
With the Indian National Congress opting to stay away from the polls, the contest turned into a direct fight between the CPM and the Bharatiya Janata Party (BJP). The bank, which has around 13,000 voters, held elections to 11 seats, while CPM candidates had already been elected unopposed in two seats.
Polling was conducted from 9 am to 3 pm at the Karuvannur P K Chathan Master Memorial School. The CPM had previously led the bank before investigations by the cooperative department, the crime branch and the Central Bureau of Investigation uncovered a fraud running into crores of rupees.