Source of Rs one crore seized should be disclosed, income tax department to CPM

THRISSUR: The income tax department has demanded to disclose the source of Rs one crore seized from the CPM. The inquiry into the seizure of cash brought to Bank of Baroda in Thrissur is continuing. The money was seized when it was brought to repay the one crore withdrawn from the Bank of India’s account which is in the name of the CPM Thrissur District Committee.

The account was frozen after depositing the amount seized from CPM in the same account. CPM district secretary M M Varghese and office secretary Prajeesh reached the Bank of India branch at MG Road to repay the money yesterday afternoon. CPM district secretariat member P K Shajan reached the bank after a long time. The bank officials informed the income tax department in Thrissur after the leaders arrived. The officials of the income tax department came and seized the money.

The matter was signed by the district secretary of the CPM after ensuring that the Rs 1 crore brought were the same notes that had been withdrawn earlier. The CPM leaders came out of the bank after completing the process which took around five hours. It is alleged that going to the bank to deposit the money to the frozen account at a time when the election code of conduct is in place, is a violation of code. The CPM has four accounts for various purposes in the branch of Bank of India.

District Secretary M M Varghese withdrew Rs 1 crore from one of these accounts on April 2. All these four accounts were frozen by the income tax department due to non-filing of income tax returns. The ED had questioned CPM district secretary M M Varghese in the Karuvannur bank fraud case. He was asked to appear today. However, he has informed his inconvenience to attend being labour day.