The Muvattupuzha Vigilance Court has ordered a quick verification against the president of the Mulavur Urban Cooperative Bank on charges of financial misappropriation.
Considering a petition, Enquiry Commissioner and Special Judge P. Madhavan, directed the Deputy Police Superintendent, Vigilance and Anti-Corruption Bureau, Ernakualm, to verify the allegations and file a report by February 28.
Besides bank president M.M. Azeez, the petitioner, P.R. Sunil of Muvattupuzha, has named 12 others as respondents.
According to the petitioner, Mr. Azeez availed a loan for himself from the bank in violation of norms. The documents regarding the money spent on the president in terms of salary and other expenses during 2015-2016 had gone missing from the bank, the petitioner said.
Accusing Mr. Azeez of amassing disproportionate assets to his known sources of income, the petitioner also said the president violated the bank’s norms on personal loans and granted loans up to ₹9 lakh as against the stipulated ceiling of ₹4 lakh.
