The Income Tax department has frozen CPM’s accounts in the Bank of India, Thrissur. The money found in the account is Rs 5 crore 10 lakhs. The freeze comes on the heels of the recent raids. The account was opened in 1998, but reports suggest that the account details were not disclosed. The account belongs to the CPM Thrissur district committee. There was Rs 10 crore in this single account.
Income Tax department had carried out the investigation into the accounts on April 4 and 5. This account had not been included in the Income Tax Returns the party had filed. The account with Rs 10 crore was in a single branch of the bank on MG Road, Thrissur. Several lakhs of rupees were withdrawn from this account. Rs 1 crore was reportedly withdrawn on April 2, immediately after the election schedule was declared. The withdrawal was made by the CPM district secretary, M M Varghese. Out of the remaining Rs 5 crore and 10 lakhs, one lakh is a Fixed Deposit. Income Tax authorities have instructed the CPM district secretary not to spend the withdrawn amount. They have also asked CPM to reveal the sources of this money.
Still M M Varghese has told that party has ‘nothing to hide’. He says, the account is legitimate and withdrawals are legal. He, as usually his party leaders respond to central agencies, said that the actions of the Enforcement Directorate (ED) and Income Tax (IT) are ‘election-oriented’ and based on BJP politics.
Raids and investigations have been carried out after months-long investigations, interrogations and raids. Thrissur district committee secretary M M Varghese and P K Biju, party State secretariat member and former MP, were interrogated in the early days of April. A C Moideen MLA, former Cooperative Minister, and M K Kannan, prominent CPM leader and Vice President of CPM-controlled Kerala Bank, were interrogated a few months back. Another leader and Municipal Council member, P R Aravindakshan, was arrested. All these actions were in connection with the infamous Rs 343 crore Karuvannur Cooperative Bank scam. Bank is controlled by CPM.
Hundreds of people lost their hard-earned money from Karuvannur Bank. Several parents suffered social embarrassment as they could not marry off their daughters as per the schedule. Some people died due to lack of money for medical care, surgery, etc. Many of them still suffer as they are unable to pick up the tab for their medical treatment.
The ED and IT actions are grave blows to the CPM and their Left Democratic Front (LDF) in view of the imminent parliament elections. They will not be able to justify the corruption charges they bear.
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