Kerala - Thiruvananthapuram   

Probe sought into graft charges in KTDFC

Staff Reporter

Yuva Janata Dal activists stage protest

Thiruvananthapuram: Amidst demands for a Vigilance probe into corruption charges against the management of the Kerala Transport Development Finance Corporation (KTDFC), the city police on Saturday detained its Chief Manager and a security guard.

Chief Manager (Administration) C.S. Sreekumaran Nair and a security guard, Chandran, were taken into custody by the police while taking out a bunch of files from the corporate office at Trans Towers in Vazhuthacaud.

Yuva Janata Dal activists who had gathered in front of the KTDFC office to stage a protest alleged that the KTDFC officials were shifting files to tamper with the evidence in the charges levelled against them.

However, the police said no case had been registered against the two, as it was found that they were ‘not shifting files.’ Managing Director Rajashree Ajith and nine others were in the office even though it was a holiday, the police said. A case has been registered against 14 Yuva Janata Dal activists on charges of trespassing into the KTDFC office.

Meanwhile, the employees of KTDFC have urged Chief Minister V.S.Achuthanandan to order a comprehensive probe into the corruption charges in granting loans in violation of rules and steps to recover the money from those who had sanctioned the loans.

In a memorandum to the Chief Minister, the employees said the KTDFC, a Non-Banking Financial Company under the Reserve Bank of India and a State Government undertaking, was in financial crisis.

The memorandum alleged that crores of rupees were given as housing, vehicle and personal loans flouting rules and on the basis of forged documents and without adequate surety. The loans ranging from Rs. 50 lakh to Rs. 4.5 crore given to individuals, companies, jewellery shops, textile shops and studios had allegedly been taken using fake power of attorney.

The employees alleged that the Managing Director herself had taken an interest-free loan of Rs. 1 crore, Chief Manager, Finance (Rs. 35 lakh) , Chief Manager Administration (Rs. 13 lakh) and Private Secretary to Managing Director Rs. 10 lakh.

Although the maximum term of loan from KTDFC is 20 years, the memorandum pointed out that the Managing Director had taken loan for 29 years.

The employees also alleged that the corporation had purchased luxury cars for the Managing Director and two Chief Managers ignoring the decision of the board. Electronic equipment, computers and furniture purchased by the corporation for its office over the years were missing, they said.

The Corporation has only eight permanent employees, including the Managing Director. Although only 95 per cent of the cost of a vehicle, including tax and registration, can be sanctioned as loan, the Corporation has granted higher amounts flouting the rules. The employees have also pointed out that private companies have been entrusted with valuation of property and the officials are accepting commission.

Meanwhile, the Yuva Janata Dal has demanded a Vigilance probe into the corruption charges in the KTDFC. Mr. Vilsakumar, a State Committee member of Janata Dal, said the Government should remove the Managing Director from the post for ensuring an impartial probe into the charges.

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