THRISSUR: Amid controversy surrounding the Rs 300 crore fraud at Karuvannur Cooperative Bank in Thrissur district, a man who took a loan from the bank was found dead at his residence at Thelappilly near Karuvannur on Thursday.
T M Mukundan, 57, who is a former panchayat member of Porathissery panchayat, was found hanging in his house. He had taken a loan from Karuvannur Cooperative Bank a few years ago. As he failed to pay the interest back, the bank had sent him an attachment notice indicating that it would proceed to recover the amount by selling the pledged assets. The bank's misappropriation of funds and fraudulent activities while sanctioning loans were recently under the scanner.
Meanwhile, his relatives alleged that he had taken only Rs 25 lakh as loan, but the notice issued by the bank asked him to pay Rs 80 lakh. The relatives also alleged that even though Mukundan tried to settle the loan amount, the discussions with the bank didn't go well, especially after the fraud transactions came out. It is also alleged that several loan defaulters of the bank were issued with recovery notices after the scam was unearthed.
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