KANNUR: Investors intensified their protest against the Peravoor House Building Society where crores of rupees were defrauded.

Investors will go on a relay hunger strike in front of the society for five days from tomorrow. They warned that this is a token protest and that action would intensify if no action was taken.

At the same time, the CPM had stated that it would pay by selling the assets of the society and charging money from the culprits. CPM district and local leaders are on two levels regarding the irregularities in the Peravoor House Buildings Society. When the district leadership repeated that the chit was conducted without the permission of the party, the local secretary said that they were not aware of it. But the investors demanded that it should be made clear when the money can be given and that it does not matter whether the party gave permission or not.

The CPM-controlled Peravoor Co-operative House Building Society started a chit of Rs 1 lakh in 2017 from 876 people. The chit was conducted without the permission of the Co-operation Department. 315 people have not been reimbursed in full even after maturity. According to the complaint received by the police, a total of one crore eighty five lakh rupees was swindled.