THRISSUR: Bank Administrative Committee Chairman PK Chandrasekaran has informed that as of August 31, a total of 73.9 crore rupees has been returned to the investors. Currently, 162 documents are in the custody of the ED. Due to this even if the loan arrears are paid off it cannot be returned.

Cooperation Minister VN Vasavan stated that there has been a delay in returning the money due to the fact that the documents were taken by the ED. Investments totalling 110 crores have been restructured and the state government has secured 27 crores as part of a financial package. However, it should be noted that the ED clarified that they have only taken documents related to money laundering activities amounting to 200 crores.

Some people have raised concerns regarding the bank's explanation suggesting that it is attempting to deflect customer complaints by placing blame on the ED. They argue that most of the documents taken by the ED actually belong to Satish Kumar who was arrested in a black money case.

In an effort to address the crisis initiatives have been undertaken under the leadership of CPM to revive the bank by accepting new deposits. District and state leaders will be meeting with investors who have suffered financial losses to assure them of the return of their funds. Immediate steps will also be taken to distribute the specified amount to investors who have incurred losses.

Investment in Karuvannur bank: 208 crores

Loans to be received: 375 crores

Interest paid to investors: 12.57 crore