Kerala Bank vice-chairman M K Kannan took commission to arrange loan, says businessman

A businessman in Thrissur revealed that Kannan received a commission for a loan that he availed from Thrissur District Service Cooperative Bank.
M K Kannan coming out of the ED office in Kochi after the interrogation
M K Kannan coming out of the ED office in Kochi after the interrogation

THRISSUR : Amid Kerala Bank vice-chairman M K Kannan denying allegations of financial deals with Satheeshkumar, the main accused in the Karuvannur bank scam, a businessman in Thrissur revealed that Kannan received a commission for a loan that he availed from Thrissur District Service Cooperative Bank. Speaking to reporters at the BJP district office on Thursday, Sijil V B, a jewellery manufacturer, said that Satheeshkumar and his assistant Jijor helped him close a loan of I17 lakh that he had availed from UCO Bank.

Kannan took a 5% commission for facilitating the loan. Using his links with Kannan, Satheeshkumar helped Sijil get a loan from the Thrissur bank to close his loan in UCO Bank. “In return, Kannan took 5% commission. Satheeshkumar and Jijor were witnesses to this.

I agreed and I got a loan of I70 lakh following the recommendation of Kannan. Of the total loan, I30 lakh was given to Satheeshkumar in cash and he gave I3.5 lakh to Kannan,” Sijil said. Sijil said he, along with Satheeshkumar, met Kannan thrice to get the loan. However, the commission sought by Kannan was not handed over to him directly.

Supporting the claims of Sijil, BJP district president K K Aneeshkumar said that Kannan had received such commission for the loans and his statement that there were no deals with Satheeshkumar was a blatant lie.

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