Thrissur: In the Karuvannur Co-operative bank, where Rs 300 crore was swindled, the DYFI leader and his mother had Benami loan arrears of Rs 1.38 crore. Iringalakuda Mapranam's DYFI regional head has a debt arrear of Rs 68.91 lakh. His mother, a member of the CPM's local committee, owes Rs 69.74 lakh as well. Both loans were sanctioned in breach of the regulations, according to the cooperative audit team.

Local activists are outraged by the claim that the DYFI is mute since it already knows how organisational leaders play a role in bank fraud. Three years ago, DYFI local committees discussed the anomalies in Karuvannur bank and the participation of the organization's leaders in this. After officials issued severe orders not to reveal knowledge about the fraud to the outside world, activists were obliged to keep silent.

However, the DYFI regional leader's grandkids and mother are specifically highlighted in the audit. Biju Kareem, a former secretary of the bank and a CPM local committee member who is presently in detention, had granted the DYFI leader and his mother a loan of Rs 68 lakh each.

The maximum loan amount per individual is Rs 50 lakh, according to the Cooperatives Act. However, if you take out a loan of Rs. Despite the fact that certain members of the organisation brought the issue to the notice of the party, they were told to keep quiet.
For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

DYFI

Sachin

22/08/2021 01:46 PM