A letter forwarded by Chennai-based businessman Mohammed Shershad to CPM general secretary M.A. Baby has triggered a storm in the party. Shershad now alleges that the same letter was leaked by CPM state secretary M.V. Govindan’s son, Shyamjith. The letter carried allegations against Pathanamthitta native and London-based businessman Rajesh Krishna, a close friend of senior CPM leaders.
Now, reports are pouring in this regard, and they are not pleasant for CPM comrades.
The news of the letter broke first in Madhurai Congress of CPM in April, 2025. Mohammed Shershad forwarded the complaint to the Polit Bureau member Ashok Davle on the eve of the party congress, that is, the previous night. Close on the heels, Rajesh Krishna was expelled from the venue. Then the media reported it.
But, Rajesh Krishna filed defamation case against those media in Delhi High Court. The documents he filed before the court included the secret complaint of Mohammed Shershad.
The letter contains serious allegations, including that top leaders of CPM got illicit money in their bank accounts and they were through Rajesh Krishna. There are allegations that the letter contains the names of the current and former ministers.
Mohammed Shershad has reportedly said that the accused Rajesh Krishna was an organisational colleague of the ministers M.B. Rajesh and K.N. Balagopal when both were at the helm of the SFI affairs. Rajesh Krishna enjoys good rapport with the senior CPM leaders. Mohammed Shershad claims that he possesses several evidences which he could collect from the Keralites who are close to Rajesh Krishnan in the UK. He demanded enquiries into the details of crores of rupees which came to the bank account there and also the sources of the same.
Shershad continued that Rajesh Krishna had years long friendship with Shyam, M.V. Govindan’s son. Shyam and Rajesh Krishna had financial dealings before Govindan took over as CPM state secretary. Both families enjoyed close camaraderie. That is why Govindan visited Rajesh Krishna’s house when he visited London. Govindan participated in a book publication programme also. Then he (Shershad) called Govindan and explained everything to him. Despite hearing all, Govindan did not give any support. By that time Shershad immersed in his official affairs. Later on, somebody called him to inform that Rajesh Krishna was participating in the party congress as a delegate. Then he intervened. He said, he used his connections in Tamil Nadu; he contacted CPM Polit Bureau Ashok Dhavle and gave him the letter in English. Now, that letter has been submitted, by Rajesh Krishna, before the Delhi High Court in connection with the defamation case. He (Shershad) asked M.V. Govindan, by e-mail, how did Rajesh Krishna get that letter. That e-mail was leaked too. Shershad believes that Govindan’s son Shyam was behind it.
Shershad said that he filed the complaint not to defame the party. Rajesh Krishna formed shell company and swindled money from Kerala state’s government schemes. Shershad told the media that Rajesh Krishna gained enormous financial gain after 2016.
Shershad said, he had complained to, Kodiyeri Balakrishnan, in 2021 regarding Rajesh Krishna. Kodiyeri took it into consideration and kept Rajesh Krishna away. But, as soon as M.V. Govindan took over as the state secretary of CPM, Rajesh Krishna came back with a bang. Shershad said that his letter contained the details of the financial details between Shyam and Rajesh Krishna; those details were leaked by Shyam. Shershad assumes that perhaps Shyam might have had some compulsions or might have been threatened.
Shershad said that he enquired about Rajesh Krishna when he (Shershad) faced some family problems. He stayed in Bedpaceshare, U.K. When CPM-led Left Democratic Front (LDF) came to power in Kerala, Rajesh Krishna came to the frontline of the Lok Kerala Sabha. It is not sure if he deserves it. Shershad said that Rajesh Krishna reached there with the support of P. Sreeramakrishnan, CPM leader and former Assembly Speaker. Rajesh Krishna brought money to Kerala through ‘Kingdom’, a shell company formed by a British citizen. It was for the sea and backwater cleaning in Kollam. Only one third of the amount brought was spent for the project. Remaining funds were shifted to some other centres. Rajesh Krishna operated the bank accounts through the ‘Kingdom’ company’s bank account.
BJP alleged that CPM has become an underworld outfit. Reports suggest that central agencies have started enquiries regarding the latest issue. Agencies had expressed suspicions about the revenue inflow of funds to CPM. Lot of allegations came up regarding the funds came after the COVID period. Agencies have found that several companies have been formed for money laundering; CPM leaders are involved in some of them. There are reports that some Kerala leaders have formed shell companies in Tamil Nadu. Licences of some of them have been cancelled.
