A strong legal and political battle looms ahead for the CPI(M) as the Enforcement Directorate (ED) moves to implicate more party leaders in the multi-crore Karuvannur Cooperative Bank scam.
CPI(M) leader P.K. Biju is the latest recipient of an ED notice. The latest notices reportedly pertain to the CPI(M) ‘s alleged use of cooperative bank accounts to “launder money” of unknown provenance. By some accounts, at least 15 CPI(M) area committee secretaries in Thrissur were under the ED scanner.
The agency appears to be overwhelmingly targeting CPI(M) leaders in Thrissur district, including the party’s district secretary, M.M. Varghese and former Minister A.C. Moideen.
The CPI(M)’s district committee in Thrissur pointed out that the ED has focussed on leaders spearheading the LDF’s electoral fight against BJP’s Suresh Gopi and Congress’s K. Muraleedharan in the crucial Parliamentary constituency.
Moreover, Prime Minister Narendra Modi recently brought national attention on the scam by stating that the alleged cooperative banking sector accused would face justice.
The CPI(M) appeared to be in a combative mood. Its leaders in Thrissur have stated they do not fear ED arrest or incarceration.
CPI(M) State Secretary M.V. Govindan denied the ED’s accusation that the party operated secret accounts and misused its heft in the State’s expansive cooperative banking sector.
He said the ED was the BJP’s catspaw. The Central government ruthlessly using the agency to target Opposition leaders who dared not bend to the BJP’s inducements and threats to shift their allegiance to the Sangh Parivar. The agency lacked credibility.
Meanwhile, the ED has reportedly informed the Election Commission of India that the CPI(M) used such accounts to acquire properties, construct buildings and extend loans to persons nominated by the party.
Leader of the Opposition V.D. Satheesan told reporters in Thiruvalla that the CPI(M) operated at least 25 accounts in cooperative banks in Thrissur.
He said large amounts of money had moved through the accounts during demonetisation, and the Karuvannur bank incident was just the tip of the iceberg. He pointed out that the Karuvannur bank had extended loans to people who were not members of the cooperative society but benamis of local CPI(M) leaders.
