The ED’s demand specifically targets the income and expenditure accounts of the CPM Thrissur district committee, with a timeframe spanning from 2016. The submission deadline for these accounts is set for November 30, creating a challenging situation for the party leadership.
The CPM-controlled Karuvannur Cooperative Bank has been mired in controversy due to a staggering Rs 150 crore fraud, resulting in ED already attaching assets worth Rs 87.75 crore. Now, the ED has escalated its inquiry by requesting the presentation of accounts belonging to the CPM Thrissur district committee, adding further complications to the ruling party.
CPM-controlled Karuvannur Cooperative Bank has been hitting the headlines for a long, of course all due to bad reasons. It is a Rs 150 crore fraud. ED has already attached Rs 87.75 crore worth of assets. Now, ED has demanded to present the accounts of CPM Thrissur district committee. It has pushed the party into further dilemmas. The ED demand is for the income and expenditure accounts from 2016. It should be presented before November 30. Even though a party claims to be keeping proper accounts, the submission of the same before an investigation agency is a real setback to the ruling party and its Left Democratic Front (LDF) apparatus.
Ninety willful defaulters reportedly owe Rs 343 crore to the bank. Wadakkancherry Municipal Councillor (CPM) P.R. Aravindakshan, money lender P. Satheeshkukumar, bank accountant CK Jilse and PP Kiran had been arrested in this regard. CPM State Committee member and former Cooperative Minister A.C. Moideen MLA and M.K. Kannan, another CPM State Committee member and Vice President of CPM-controlled Kerala Bank have already been interrogated by ED.
The latest developments pave the way for sleepless nights to CPM leadership.