Chalakudy co-op society-BEVCO scam: Even after 18 years, no action despite court order

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Thrissur: No steps have been taken to address the alleged siphoning off of Rs 3.57 crore worth of funds from Kerala State Beverages Corporation (BEVCO) by members of the administrative body of Chalakudy Urban Co-op Society back in 2005. This is despite the Co-operative Arbitration Court calling for action in 2016.

The members of the administrative body of Chalakudy Urban Co-op Society are alleged to have siphoned off funds from six retail outlets that relied on the Chalakudy warehouse of BEVCO. These outlets were supposed to deposit their revenues in a nationalized bank in Thiruvananthapuram, but instead the funds were allegedly deposited in the Chalakudy Urban Co-op Society's bank.

During the period of February 4, 2005, to March 31, 2005, the Chalakudy Urban Co-op Society bank did not deposit any of the revenue from the six retail outlets. It is alleged that certain members of the administrative body of the co-op society diverted the 115-day revenue to their personal accounts.

The members allegedly forged documents to make it appear as if the funds had been transferred to the nationalized bank in Thiruvananthapuram.

The scam came to light after BEVCO lodged a complaint. Co-operative Arbitration Court in 2016 directed Chalakudy Urban Co-op Society bank to either return the amount with 18 per cent interest or levy the amount from the perpetrators.

After 18 years, the amount that allegedly was siphoned off from the six retail outlets in BEVCO's Chalakudy warehouse by members of the Chalakudy Urban Co-op Society administrative body is estimated to be worth around Rs 10 crore. Despite this, no action has been taken by the relevant authorities. There are allegations that some of the staff at BEVCO were involved in the scam as well.

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