Kozhikode: The Special Vigilance Court in Kozhikode adjourned the hearing in the microfinance fraud case against SNDP Yogam general secretary Vellappally Natesan to April 29. 

Police submitted a refer report in five cases out of 124 cases registered in connection with the alleged microfinance fraud. Refer report said that the preliminary probe has found complaints as baseless. 

It may be noted that former Kerala chief minister VS Achuthanandan is the plaintiff in the case. His son VS Arunkumar appeared on his behalf before the court. The appearance was necessitated as the court sought the plaintiff’s stand over the Thiruvananthapuram Special Investigation Team’s intimation that it is winding up the probe.

In 2016, former CM VS Achuthanandan had approached the Thiruvananthapuram Vigilance Court alleging that SNDP Yogam availed Rs 15 crore from Backward Classes Development Corporation at 2% interest and disbursed this amount as loan to people for 12% interest. Additionally, it was noted that SNDP leaders, including Natesan, benefitted from alleged irregularities in microfinance transactions.