MALAPPURAM: Indian National League (INL) on Thursday intensified its attack against IUML citing the deposit of Kunhalikutty’s son Hasique Pandikadavath in AR Nagar Service Cooperative Bank. National Youth League (NYL), the youth wing of INL, in a press meet here said that the Enforcement Directorate (ED) should conduct a detailed investigation into the deposits of IUML leaders in the cooperative bank.
“IUML leaders have been using the cooperative bank to deposit their black money. ED should investigate the financial deals of IUML leaders through A R Nagar Bank and other institutions,” said NYL general secretary Mujeeb Pullat.
INL Malappuram district committee alleged that the IUML opposed the merger of cooperative banks controlled by it with Kerala Bank to deposit the party’s black money safely. However, officials with the bank and IUML leaders refuted all allegations. A top official with the bank told TNIE that the work is being done to release the amount frozen by the Income Tax (IT) department.
About the K3.5-crore deposit of Kunhalikutty’s son Hasique, the official said the chartered accountant with Hasique submitted all documents before the IT department and his amount will soon be released. “The IT department froze K110 crore in the bank. Of the amount, K30 crore has so far been released after the depositors submitted necessary documents. The process of releasing the remaining amount is being carried out by the bank and the depositors,” the official said, adding other allegations are the result of political interests of various parties.
IUML leaders said Hasique deposited the money in A R Nagar Bank legally. “Hasique transferred money to A R Nagar Bank from an SBI account. The proof of the transactions is available with the banks. Then how will it become a black money deposit?” said an IUML district leader.
Though the IT department had frozen the deposit of Hasique in March, 2021, he couldn’t get it released by submitting required documents before the IT department yet. However, the officials with the bank said that lockdown and travel restrictions delayed the process of submitting the documents of Hasique before the IT department. The bank also dismissed news reports that the relatives of CPM district secretary E N Mohandas have deposits in the bank.