KOLLAM: Three employees, including the son of the CPM Neduvathoor area committee secretary, have been sacked in connection with a Rs 1.66 crore financial irregularity at Ezhukon Service Co-operative Bank. K Anilkumar, who was the Secretary when the irregularity took place, Accountant B Baiju and attender TP Sujith, son of CPM area secretary P Thankappan Pillai, were expelled.

The bank is governed by a CPM-led board. After obtaining the documents from the loan applicants, they were be allowed more than they ask for. Following this, the excess amounts were shared by the three without the knowledge of the borrower. When allegations surfaced in February 2020, the bank appointed a committee to investigate.

Documents up to 15 years ago were examined as per the instructions of the registrar of co-operative societies. The three were subsequently suspended in March pending further investigation. The bank did not incur any financial loss as the lost amount was recovered from the accused. The expulsion is based on a recently submitted investigation report.

Bank officials declined to comment on the incident. A section of the CPM Area Committee, which discussed the issue, came out strongly against the accused. Those expelled have the opportunity to appeal to the governing body within three months.