KASARGOD: Muslim League's mediation mission in the Fashion Gold investment fraud case seems to be failing. Though League leadership intervened to solve the issue, there is no progress in the mediation mission. With just a week to submit the report on the assets and liabilities of the jewellery, to the Muslim League leadership, the inventory of assets to be taken has not reached anywhere. The accounts of the assets and liabilities should be handed over to the League state leadership before September 30.

Though the accounts of the liability has been completed, it has not been decided from where money will be paid to the investors. In the meanwhile, COVID-19 was confirmed to the mediator League district treasurer. In addition to investment fraud, irregularities in GST were also found. The enforcement department can proceed with the proceedings, including confiscating the assets of Fashion Gold. An amount of Rs one crore and forty one lakhs including fine and interest should be paid as GST.

The investigation team received indications that investment was accepted and the assets were widely sold despite the assurance that the jewellery shop would be closed. The probe team received information that M C Kamaruddin and T K Pookoya had sold the assets of Fashion Gold in Payyanur and Kasaragod after it was confirmed that it would collapse. As soon as the jewellery shop was closed, the building and land in Kasargod were sold.