THRISSUR: Investigation into the discrepancy between the total amount in the Karuvannur Co-operative Bank fraud and the amount ordered for revenue recovery. Collector VR Krishna Teja has asked the District Co-operative Joint Registrar to inquire into the matter and submit a report.

The action was taken on the basis of a complaint filed by MV Suresh, former manager of Karuvannur Bank Extension Counter. 227 crore fraud was detected by the Cooperative Department, but the order was for the recovery of only 125.83 crore. The amount has to be recovered from 24 people including members of the governing body and employees.

After the defendants did not repay the amount, the cooperative department demanded recovery. An attachment procedure for only 20 lakhs was made against the commission agent who was found to have cheated 30 crores and there is a similar difference in other amounts. There is an allegation that the amount was reduced on the grounds that there was no apparent evidence and that there was political interference in this. The defendants obtained a stay and the forfeiture proceedings were stopped. They obtained a stay from the High Court following an appeal to the Secretary of the Cooperation Department.

Appointment of a commission agent was illegal

Meanwhile, it was reported that the appointment of a commission agent in the Rubco agency under the bank was illegal. The cooperation department has not given permission for the appointment. The high-level committee of the department had found this out. 10 to 14 percent profit can be made by selling furniture and mattresses. Even after taking vehicle-godown rent, salary, commission and other expenses, the bank should earn three percent profit. The allegation is that it was not received and there is a fraud of crores.

Fraud of certain defendants, recovery amount

Bijoy...................... 35.65 crores ..... 20.72 lakhs

Biju Karim............. 25.84 crores .....12.26 crores

CK Jills.................. 5.73 crores ...... 19.91 lakhs.