KOCHI: Yet another cooperative bank has come under the scanner with the Vigilance and Anti-Corruption Bureau (VACB) registering a case against the secretaries and governing body members of North Paravoor Service Cooperative Bank. The VACB FIR stated that the bank paid Rs 1.49 crore as fees to a lawyer for filing tax to the tune of `27.23 lakh since 2008-09 fiscal.
The FIR was registered by the Ernakulam VACB unit recently under various sections of the IPC and Prevention of Corruption Act. There are as many as 24 accused persons including two secretaries, a person who availed loans and 21 governing board members, including local CPM leaders.
The accused bank secretaries Krishnakumar P, Jayashri K S, loanee Shainaj Sudheerkumar, board members C P Jayan, V Dileepkumar, T M Sheikh Pareeth, M A Vidyasagar, R Murukeshan, K R Didi, Sindhu Vijaykumar, Sreedevi Apukuttan, K Ramachandran, Gopalakrishnan P K, K M Rajeev, E P Sasidharan, T V Nidhin, Angels M P, Chandrabose K B, Jibu C P, Vijaykumar J, Jyothi Dineesh, Sunil Sukumar K S, Vidyanandan K A and V S Sadanandan. The case was registered based on a complaint filed by N Mohanan, a resident of North Paravoor.
As per the FIR, the secretaries and governing body members of the bank conspired and illegally granted loans to Shainaj and another person named Sarasmohan. According to Vigilance, Shainaj and Sarasmohan had availed a loan mortgaging their properties.
A new loan of Rs 32 lakh was sanctioned again by mortgaging the same properties to the same persons. Though Shainaj and Sarasmohan did not repay the first loan availed by them, it was shown as closed as per bank records.
Another major graft as per VACB FIR is that accused persons misappropriated funds in the form of income tax filing for the bank. From the 2008-09 fiscal to the 2020-21 fiscal, the bank paid Rs 27.23 lakh as income tax. However, fees for filing income tax returns during the same period coming to the tune of Rs 1.42 crore were paid to lawyer K K Chandrasekharan, including Rs 3.25 lakh paid as advance. From March 2008 to March 2018, Rs 79.50 lakh was paid to the lawyer as tax filing fees. From March 2018 to March 2021, Rs 59.25 lakh was paid as fees to the lawyer.
However, income tax filing fees for the lawyer were fixed by the governing body on March 27, 2018. Despite this, the secretaries continued to pay the amount as fees without receipts or vouchers. Thus accused persons knowingly diverted the funds of the bank.
The case is being probed by Ernakulam VACB Inspector Kiran Sam. VACB officials said that the victim had approached the Vigilance Court with a complaint. The court directed VACB to investigate it. “We conducted a preliminary probe and found it a fit case to probe. We have collected some records from the bank and we are examining them. Soon we will summon the accused persons for a detailed interrogation. The probe is in the preliminary stage,” a VACB official said.
Conspiracy suspected
FIR says bank paid Rs 1.49cr as fees to a lawyer for filing tax to the tune of Rs 27.23 lakh since 2008-09 fiscal
There are 24 accused persons including 2 secretaries, a person who availed loans and 21 governing board members, including local CPM leaders
Case was registered based on a complaint filed by N Mohanan, a resident of North Paravoor
