KSRTC: Vigilance probe to find Rs 100 crore

THIRUVANANTHAPURAM: The Board of Directors has decided to seek a vigilance inquiry by the police into the alleged irregularities of Rs 100 crore in KSRTC accounts. Three months ago, CMD Biju Prabhakar had revealed that financial irregularities to the tune of Rs 100 crore had taken place during 2012-15. This is the first time KSRTC is seeking the help of Vigilance for the investigation.

As part of the investigation into the irregularities, Executive Director KM Sreekumar was shifted to Central Zone (Ernakulam). Biju Prabhakar said in a press conference on January 16 that there would be a criminal case would be registered against Sreekumar. On the very next day, it was announced that the Vigilance would investigate the case. However, nothing happened after that. The Board of Directors has now recommended a vigilance inquiry after finding that the explanation of the accused officials was not satisfactory.

100 crore controversy

KTDFC complained that Rs 350 crore in loan had not been repaid

Additional Secretary S Anil Kumar's probe found irregularities worth Rs 100 crore

Money was allegedly given to depots without registration

Sreekumar explained that he was not in charge of the accounting department at the time of the irregularities.S