Ernakulam: The bail plea of former CPI leader and former president of the Kandala Cooperative Bank, N Bhasurangan, has been rejected in connection with the Kandala Cooperative Bank scam case. The Prevention of Money Laundering Act (PMLA) Special Court in Kochi rejected the bail application of N Bhasurangan and his son Akhil Jith.
The court rejected the bail based on the prosecution’s argument that granting bail to both would affect the case, considering their influence within the ruling government of Kerala.
Simultaneously, the Enforcement Directorate (ED) has issued notices to Bhasurangan’s wife, daughter, and son-in-law to appear for interrogation to collect evidence related to the Kandala Cooperative Bank scam case. The notice specifies that they must appear for questioning at the ED office in Kochi on February 5. In recent days, the ED discovered properties worth more than Rs 1.02 crore linked to Bhasurangan.
On January 19, the ED filed the first charge sheet against Bhasurangan and his family in connection with the case. The charge sheet includes six accused, comprising Bhasurangan and his family. The case revolves illegal money transactions around Rs 3.22 crore made by Bhasurangan and his family.
According to records, Bhasurangan is the primary accused, with his son Akhil, wife, and two daughters listed as additional accused. The ED found that transactions in lakhs were conducted through the accused’s bank account.
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