High Court directs govt to inform it about progress of Crime Branch investigation in Karuvannur Bank scam

KOCHI: The High Court has directed the government to inform about the progress of the Crime Branch investigation in the Karuvannur Co-operative Bank scam. The High Court gave the direction while considering the petition requesting that the case be handed over to the CBI. 'The petitioner told the court that there was no information about the stolen money even after eight months of the Crime Branch investigation.

It was Thrissur native MV Suresh, a former employee of the Karuvannur bank, who approached the court seeking a CBI probe. The petitioner, who stated that the bank witnessed misappropriations worth Rs 104 crore, alleged that leaders of the ruling party leaders are interfering to subvert the case. The main demand of the petitioner is that the case should be investigated by the CBI under the supervision of the High Court.

The High Court had considered the same petition on July 21 last year. Both the government and the Karuvannur Bank had opposed the CBI investigation at that time. While the government argued that the crime branch was effectively investigating the case, the bank told the court that the depositors will not lose money.