Clean chit for Vellappally Natesan in microfinance fraud case; Vigilance issues notice to VS Achuthanandan

THRISSUR: The Vigilance and Anti Corruption Bureau has given a clean chit to SNDP General Secretary Vellappally Natesan in the microfinance fraud case. Vellappally was the first accused in the case. It was CPM leader VS Achuthanandan who lodged the complaint. The Thrissur Vigilance Court has sent a notice to Achuthanandan to inform if there is any objection to closing the case.

In the complaint, VS Achuthanandan alleged that irregularities of more than 15 crores had taken place in the microfinance fraud carried out through the SNDP union branches. The complaint also stated that the loan taken from the Backward Welfare Corporation was defrauded by giving it at a high interest rate. Vigilance investigated 124 cases in this regard across the state. Among these, five cases have been decided to be written off. Ernakulam Range SP Himendranath coordinated the investigations as per the instructions of the High Court.

Vigilance stated that the money given as microfinance loans has been paid back to the government and no irregularity has been found in the payment to the lower level. Investigation in 54 cases is in the final stage. These reports will be submitted to the court soon.