Plea In Kerala High Court Seeks Investigation Of Kandala Co-Operative Bank Scam By Crime Branch Or SIT

A plea has been moved in the Kerala High Court seeking investigation of the Kandala Service Co-Operative Bank scam to be entrusted to the Crime Branch or in the alternative seeking constitution of a Special Investigation Team to conduct the probe in the matter. 

The issue relates to the siphoning off of an amount of over Rs 180 crores in the Saving Bank Accounts and Fixed Deposits of the depositors by office-bearers of the Co-operative Bank during the period 2018-2023.  

Justice P.V. Kunhikrishnan has sought the State's response in the matter. 

The plea been moved through Advocate Nikhil Sankar S. avers that the petitioner had made deposits in the savings Bank amounting to Rs. 4.4 Lakhs, and a fixed deposit of Rs. 10 Lakh, which had matured in 2023. However, the petitioner states that despite the maturity period of the scheme, the office bearers of the Co-Operative Bank refused to return the money or the interest, thereby jeopardizing the future prospects of his family. 

The petitioner alleged that the office bearers of the Bank had siphoned off more than Rs. 180 Crores with the fraudulent intention to cheat the petitioner as well as other depositors. The petitioner stated that the enquiry conducted by the Registrar of Co-operative Societies also revealed the malpractices of the office bearers of the Bank. 

The petitioner claimed that so far, no proper investigation has been conducted by the Maranalloor Police in the matter, nor have the statements of any of the material witnesses been recorded. 

"Irreparable injuries and serious hardships will be caused to the petitioner if a proper investigation is not conducted," the plea states. 

Case Title: Rajendra Kumar v. State Police Chief & Ors. 

Case Number: W.P. (Crl.) 951/ 2023