Kozhikode city police co‑op society board accused of ₹33 lakh loan scam

The Kozhikode CUSBA Police Station on Wednesday registered a case against the Board of Directors of the Kozhikode City Police Employees Co‑operative Society Ltd, following a complaint from a former office attendant alleging that the organisation cheated him in a ₹33 lakh loan scam.

The accused include the 11 directors and board members of the Kozhikode City Police Employees Co‑operative Society Ltd, as well as two others—one of whom is a co‑worker of the complainant, Bipin P.

Rajesh MK, an office attendant at the Kozhikode district police office and an A‑class member of the Kozhikode City Police Employees Co‑operative Society, had been made a co‑surety for a loan of ₹2.5 lakh taken by his co‑worker Bipin P. Rajesh alleged that the accused later manipulated the records, including the documentation related to the ₹2.5 lakh loan for which he was listed as co‑surety. Following these changes, the society’s board of directors granted Bipin a loan of ₹25 lakh at a meeting held on June 23, 2023.

After Bipin defaulted on repayment, Rajesh claimed he was held liable for the entire amount, which grew to ₹33 lakh with interest, as he had been named co‑surety. He further alleged financial fraud and forgery in the process.

Based on the complaint, the police have registered a case under Sections 403, 409, 420, 465, 468, 471, and 34 of the Indian Penal Code, covering cheating, criminal breach of trust, forgery, and common intention.