Leader of the Opposition V.S. Achuthanandan has unleashed a fresh round of allegations against Sree Narayana Dharma Paripalan (SNDP) Yogam general secretary Vellappally Natesan, accusing him of siphoning off funds from microfinance ventures targeting economically weaker sections of the Ezhava community.
Addressing a press conference here on Wednesday, he said the microfinance ventures floated by the SNDP were steeped in corruption. Mr. Natesan, he said, had availed himself of a loan of Rs.15 crore from the Kerala State Backward Classes Development Corporation at an interest rate of 2 per cent.
Bogus utilisation certificates
“The funds were used to refinance self-help groups of the SNDP at a hefty rate of 12 per cent. Mr. Natesan also produced bogus utilisation certificates to divert money,” he said.
Mr. Achuthanandan said SNDP Yogam leaders had funded hardly 10 per cent of economically weaker Ezhava families and pocketed the remaining credit. He had fabricated names and addresses of beneficiaries to hoodwink the corporation. An additional amount of Rs.600 crore was mobilised from nationalised and scheduled banks.
“An inspection conducted by the Principal Accountant General had revealed that the SNDP Yogam was refinancing beneficiaries at 12 per cent interest after availing of credit from the corporation at 2 per cent.”
He alleged that the Chief Minister’s office had tried to hush up the corruption by directing the Backward Classes Development Corporation not to act on the AG’s report. The Chief Minister and Home Minister had also intervened to suppress the report of a Vigilance investigation into the corruption.
