Kozhikode Corp fund fraud: CBI likely to intervene, LDF organises protest

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Kozhikode corporation | Photo: Mathrubhumi

Kozhikode: The alleged fraud to the tune of Rs 14 crore at Punjab National Bank is likely to come under CBI scanner. As per rule book, if a malpractice amounting to Rs 3 crore has been identifed under a public sector bank, then a report on the same should be sent to CBI.

At present, the auditing wing under PNB’s Chennai zone has been looking into the alleged illegal transaction that happened at the branch. The exact scale of malpractice, the modus operandi and money value can be determined only after that.

Following that, the bank is expected to send the report to CBI if required. As of now, a fraud to the tune of Rs 2.53 crore has been identified.

Meanwhile, the Corporation has refuted UDF’s allegation that the fraud happened with the knowledge of ruling faction. Similarly, LDF organised a protest march to the PNB Link Road branch. CPM district committee has issued a warning to disrupt PNB’s operations if the missing money is not credited.

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