TVM co-op bank in bad light over slew of allegations

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Thiruvananthapuram: Muttathara Co-operative Bank here is in a bad light over a slew of allegations.

The allegations gained momentum after leaders of the co-operative bank failed to repay the loans they borrowed for setting up benami companies.

The loans were allegedly availed for setting up a company at Poonthura during the pandemic period. The bank allegedly sanctioned business loans to different people based on the instructions given by the leaders.

It is even said that an area committee leader took as many as three loans. The amount was finally recovered after the intervention of the bank secretary, said reports.

Actions were initiated against the bank employees including its secretary. However, it came only after a group of party loyalists cum businessmen brought the issues to its notice. It is also alleged that the party leaders escaped disciplinary action so far due to the support from an influential person at the district level.

More allegations
A controversy has erupted in the capital city over a CPM woman leader's marriage expenses. A co-operative society allegedly demanded a hefty amount from their woman colleague for hosting the marriage. The woman leader had some suspicions over the bills given by the society members. She did not settle the full bill. Later, an investigation found misappropriation of around Rs 2.5 lakhs in the bell handed over to her. Interestingly, top officials of the Muttathara Co-operative Bank were part of the governing body of the above-mentioned society as well.

Certain renovation works taken up at the bank have also come under the scanner.

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