2023-10-27 21:27:37
Kochi ∙ The trial court, following examining the documents and evidence submitted by the Enforcement Directorate (ED) in a sealed cover in the Thrissur Karuvannur Bank money laundering case, rejected the bail pleas of the third accused, CPM local leader and chairman of the Vadakanchery Municipal Standing Committee PR Aravindakshan and former accountant of Karuvannur Bank CK Gills. .
The court rejected the bail application by accepting the prosecution’s argument that if the accused who have political support and financial power in the crime, including high-ranking political leaders, are granted bail when the investigation is at a critical stage, they will have the opportunity to destroy evidence and intimidate witnesses.
The investigation team is investigating how much of the 300 crore rupees that the accused had stolen from the Karuvannur Bank as a benami loan was invested in other banks under the influence of the accused and tried to launder the black money. It is this investigation that reaches the Peringandur bank where Aravindakshan and his relatives have accounts. The trial court will consider today the petition filed by the Peringandur Bank Board of Directors once morest ED to defend this move.
12 crores announced to be paid soon is also uncertain
Thrissur ∙ Karuvannoor Cooperative Bank has not been able to deliver the funds to the bank for at least a month following the decision was taken by the Minister to immediately return the investment amount to all those who have deposited less than 50,000 rupees. In the first week of October, the cooperative department decided to cool down the protests by bringing Rs 12 crore to Karuvannur to small investors through Kerala Bank. The notification was that the money would reach the bank within a week, but it has not arrived yet. However, bank officials say that the money will arrive before November 1 and there will be no change in the decision. About 20,000 investors have less than 50,000 rupees. As most of them are poor and elderly, a meeting held in Kochi under the chairmanship of Minister VN Vasavan decided to distribute 12 crore rupees urgently.
English Summary:
Bail application of the accused was rejected on Karuvannur Bank Case
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