Karuvannur bank fraud: investigation ordered; the registrar calls an emergency meeting
Thrissur: A preliminary investigation has been ordered by the Cooperation Department into reports of serious irregularities at the Karuvannur Cooperative Bank and the suicide of a man on Thursday after receiving a notice of revenue collection. The Minister of Cooperation and Registration, VN Vasavan, plans to call a meeting to consider the matter.
At a time when the state government ordered all financial institutions to avoid revenue collection processes against defaulters due to the current Covid-19 crisis, a bank under its jurisdiction has launched recovery actions that ended up costing their lives. Co-operative Societies Registrar PB Nooh IAS has called an emergency meeting with the Joint Registrar, Deputy Registrar and other officials to discuss the issue reported by Thrissur.
“An investigation is open. Let the registrar submit the investigation report. We will review the report and appropriate action will be taken, ”said Mini Antony IAS, Government Cooperation Secretary.
When asked for her opinion on the meaning of an income collection notice during this pandemic, she said, “We don’t know why this was granted and what type of loan Mukundan had taken out. The report will clarify any issues and then we can comment on it, ”added Mini Antony.
It was Ajith MC, Deputy Registrar (General) of Mukundapuram Circle, who issued a revenue collection notice to Prime Minister Mukundan (63), former member of the panchayat and resident of Thelappally. Mukundan got angry and committed suicide. There are also allegations that the deputy clerk worked hand in hand with Biju and Bijoy, the administrative members of the bank to cover up the dispute.
“The revenue collection notices were a deliberate measure to suppress dissent and this was planned by Ajith and other members of the PMO. Shortly after the issues associated with the irregularity were raised, an audit was conducted under the direction of Deputy Registrar Ajith. massive fraud and also the role of administrative panel members came to light. However, no action has been taken against them. Instead, notices were issued to many for immediate loan repayment during this difficult time. It was a deliberate decision to divert attention and also to remove the problem, ”said Suresh, a former bank employee.
The irony is that many people have received collection notices for amounts greater than what they borrowed. Mukundan received a collection notice for an amount of Rs 80 lakhs. However, people close to him informed Mathrubhumi.com that he only took Rs 30 lakhs.
“The resumption notice should not have been issued during this pandemic period. The life of an ordinary man is difficult and they deserve humanitarian consideration, ”said Shaju.TK (Shajuttan), neighborhood councilor.
He also added that there is a practice of giving commissions to administrative members for granting bank loans.
“For a bank loan worth Rs 1 cr, a commission of Rs 10 lakhs should be paid to the administrative panel. On top of that, members of the administrative panel siphoned off millions of rupees by fabricating documents. This tragedy of sending a collection notice was a measure to cover up these irregularities, ”added Shaju.