A petition has been filed in Kerala High Court seeking a probe by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) into a loan scam in the Karuvannur Service Cooperative Bank at Irinjalakuda in Thrissur district.
In his petition, Suresh M.V. from Thrissur alleged that around ₹300 crore had been siphoned off from various accounts maintained at the bank at the behest of the managing committee.
The money deposited by the common man had been diverted to many sources. This amount had been utilised for illegal trade and other anti-national activities.
The petitioner said the siphoned money had been utilised for purchasing land near Perinjanam where conventions of banned outfits were held. It was suspected that money was used for terror activities. Therefore, the matter required an in-depth probe. In fact, as per a RBI circular issued in 2009, if crores of rupees were siphoned off from a bank, the…