Thiruvananthapuram: Amid growing controversy and criticism, authorities have taken significant steps in the investigation into the Kandala Co-operative Bank scam. Rural Superintendent of Police (SP) D. Shilpa has demanded an explanation from Deputy Superintendent of Police (DySP) Kattakkada, marking a crucial development in the case. Additionally, a dedicated special team has been appointed to look into the details of this financial scandal. The investigation will involve a meticulous examination of each file in the case within the Kattakkada DySP office.
The latest actions come against the backdrop of more controversies surrounding the bank, despite the registration of 66 cases against its president, Bhasurangan, related to alleged investment fraud. Concerned investors who have had their money tied up in the bank have been approaching the bank for the past one and a half years to seek the return of their investments.
When irregularities first came to light, the investors approached the police. Despite Maranalloor Police having registered 66 cases against members of the Administrative Committee, progress on these cases has been slow.
The Rural SP, D. Shilpa, sought an explanation from Kattakkada DySP Shibu for the delay in police action, particularly in light of the fact that the prime accused, Bhasurangan, was granted anticipatory bail. The Director General of Police (DGP) had issued a circular stipulating that a special team, led by a DySP, should investigate financial irregularities exceeding Rs 5 lakh. However, this directive has not been implemented effectively.
In a bid to bring order to the chaotic situation surrounding the Kandala Co-operative Bank, the Rural SP has deployed officials from the District Crime Branch for a comprehensive examination of the case. A separate team will examine each file separately in the Kattakkada DySP office itself.
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