Kandala Bank scam: ED raids Bhasurangan’s house

Sources said that the ED collected some documents related to land purchases and bank passbooks. 
The Directorate of Enforcement. (File | PTI)
The Directorate of Enforcement. (File | PTI)

THIRUVANANTHAPURAM:  The Enforcement Directorate (ED) probing the Kandala Bank fraud case on Saturday raided the house of N Bhasurangan, the former president of Kandala Service Cooperative Bank, at Maranalloor near Kattakada. 

On Friday, the ED submitted before the PMLA Court in Kochi that the accused persons were involved in an organised crime and committed an economic offence. Hence further details have to be collected from the accused. 

The ED also told the court that more physical evidence had to be collected. The custody period of Bhasuranagan and his son ended on Friday, and they were remanded in judicial custody.

The raid began at 10 am and ended around 5.30 pm. Sources said that the ED collected some documents related to land purchases and bank passbooks. 

The house has been lying closed for a few days since the arrest of Bhasurangan and his son on Tuesday. 
ED had submitted before the court that Bhasurangan was highly influential as he was part of the ruling front in Kerala.

ED had also submitted before the court that it had seized a large number of documents as part of the investigation. Bhasurangan and Akhiljith have to be confronted with the collected evidence and statements. Having analysed the bank statements of Bhasurangan and his family, ED found they held five accounts at the Kandala Bank alone. 

Bhasurangan was the president of the bank for 30 years. He has two accounts in the bank with a total deposit of Rs 1.04 crore. 

His son Akhiljith has Rs 1.5 crore as a deposit, while his wife Jayakumari and daughter Abhima have deposits of Rs 42.87 lakh and Rs 78.63 lakh, respectively. ED had revealed the details of the accounts in a report filed before the court.

Bhasurangan​ complains of uneasiness, hospitalised

Bhasurangan, who is in judicial custody, was hospitalised after he complained of chest pain on Saturday.  Bhasurangan, the first accused in the Kandala Bank scam being probed by the Enforcement Directorate (ED), is undergoing treatment at Ernakulam General Hospital. Bhasurangan and son Akhilijith were remanded in judicial custody by the PMLA Court in Kochi till December 5 and they were lodged in Ernakulam Sub-Jail on Friday.

On Saturday around 10 am, Bhasurangan complained of chest pain and was rushed to Ernakulam General Hospital. There were variations when his ECG was checked and now he is admitted to the hospital for further medical tests

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