Mr. V.K. Krishna Menon, former Union Defence Minister, to-day [Trivandrum, February 28] denied the charge that he had money in foreign banks. Addressing an election meeting here to-day, Mr. Menon said that he proposed to take legal action against the C.P.I. State Secretary and the Editor of the party organ Janayugom , if they did not tender an apology for publishing a report alleging that he was receiving large sums of foreign money for election purposes. The report, Mr. Menon said, had stated that a purse that he had mislaid at Cochin airport contained foreign cheques. Mr. Menon said that it was a “most reprehensible character assassination.” Though associated with the communists for over 40 years, he said he had not come across any responsible communist attacking his character either in England or in India. There were also other portions in the report which were extremely objectionable, he said.