Kamaruddin may step down from party posts
KASARGOD: Manjeshwar MLA MC Kamaruddin — facing charges of cheating from investors in his gold business — is under pressure from a section of IUML leaders to step down from the position, sources in the party said.He may also step down as the chairman of the UDF Kasaragod committee and from the IUML’s state working committee, they said.Kamaruddin met party supremo Sayyid Hyderali Shihab Thangal at Panakkad on Tuesday. “A decision has been taken by the party leadership,” said a source.
Around 18 investors in Fashion Gold, a chain of jewellery stores, have pressed charges of cheating against its chairman Kamaruddin and managing director T K Pookoya Thangal, an influential Sunni leader.
Cumulatively, Fashion Gold owes Rs 2.64 crore to the 18 investors. The LDF and BJP have alleged that Fashion Gold has raised around Rs 136 crore from 800 investors.
Fashion Gold with four stores folded up six months ago, but sources said the business accepted Rs 1 crore from a depositor even after that.Police investigators searched the houses of the MLA at Padna and Pookoya Thangal at Chandera. Both were not in their houses.
Pookoya Thangal has gone into hiding, say police
Police sources said Thangal, a native of Lakshadweep, has turned off his phone and reportedly gone into hiding. Fashion Gold has been on the slide since the Centre demonetised `500 and `1,000 currency notes, triggering a cash crunch, Kamaruddin had told TNIE. When he was nominated as the IUML’s candidate in Manjeshwar, several investors in his business raised the issue of the business defaulting on the depositors. Kamaruddin then issued cheques to them to buy peace.
Now the cheques have bounced and at least five of them have come forward to file complaints against him. The CPM is leading the political attack on Kamaruddin and encouraging investors to file police complaints. However, an IUML leader said the role of Kamaruddin’s rivals within the party could not be ruled out as most of the complainants are party sympathisers. “So don’t expect the leadership to throw Kamaruddin under the bus, but he may be asked to step down from party’s working committee and as chairman of the UDF’s Kasaragod committee,” he said. Officially, the IUML has not yet commented on the cases or the allegations against the MLA.
FEELING THE HEAT
Manjeshwar MLA M C Kamaruddin meets party supremo at Panakkad
His business partner Pookoya Thangal reportedly goes into hiding
The LDF and BJP have alleged that Fashion Gold has raised around I136 crore from 800 investors