Ernakulam: The Enforcement Directorate (ED) is set to interrogate the CPI(M) panchayat president and several others in connection with the Kandala Co-operative Bank fraud case today. Among those summoned are Maranallur panchayat president A Suresh Kumar, former panchayat vice president Gopakumar, close relatives of the former co-operative bank president Bhasurangan, and former board members.
The ED issued a notice to them on Monday morning, directing them to appear at the ED office in Kochi. Panchayat president Suresh Kumar, who had reportedly taken a loan of Rs 17 lakh from the bank, is under scrutiny, considering the bank’s loan limit is Rs 10 lakh. Investors allege that Kumar obtained an amount exceeding the prescribed limit, and the CPI(M) provided assistance to conceal this alleged scam. Notably, CPI(M) leader Suresh Kumar served as a director in the bank’s last governing body.
In a parallel development, CPI leader and former vice president of the bank’s governing body, N Bhasurangan, along with his son Akhiljit, are currently in remand after being arrested in connection with the case. Bhasurangan is applying for bail today.
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