Kozhikode: Senior CPI(M) leader and Central Committee Member, AK Balan, made a revelation about the irregularities that is going on in the Kerala State Financial Enterprises Ltd. (KSFE). He said that in the name of chits, irregularities worth crores of rupees have been carried out. He warned everyone not to expect that central agencies would not come when irregularities such as this takes place.
AK Balan was speaking at the state meeting organized by a pro-CPI(M) union of KSFE at Kozhikode.
The communist leader revealed that chitty transactions at KSFE are being carried out by using fake news and fake cheques. This will lead to huge financial issue and will affect the very existence of KSFE. AK Balan then said that investigations such as those being conducted in cooperative sectors will reach KSFE. He warned everyone not to expect otherwise.
The CPI(M) leader added that loans are being taken by pledging fake documents. He also noted that the branches of KSFE are started unscientifically. Why are there so many branches for KSFE, the leader wondered. And he said that there is a tendency to begin a new branch as soon as people at the present branch get high.
AK Balan also criticized the KSFE for not implementing any new reforms. He also blamed the KSFE officials of becoming complacent and compromising when wrong tendencies are being carried out.
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