Rs 24 lakh missing from CPM bank account

In a case of financial malpractice, bank deposits to the tune of Rs 23.80 lakh of the CPM district committee were found missing from its accounts with Federal Bank here on Thursday.

The incident came to light when a cheque for Rs 5 lakh issued to the party state committee as levy bounced, reliable sources said.

Party office secretary C P Subhash and P Rajesh, who handle the bank accounts, used to show the bank counter receipts to the party district secretary after the transaction as a practice, the sources said.

The party district committee held an emergency meeting on Thursday to discuss the missing deposits, sources said.

The meeting decided to keep the two persons off the party’s official duties on condition that the missing amount would be deposited back in the party accounts at the earliest, the sources said.

The emergency meeting was held before the special reporting of four area committees of the party before party central committee member A Vijayaraghavan.