The Enforcement Directorate, which is probing the alleged multi-crore Karuvannur Service Cooperative Bank (KSCB) fund-siphoning scam said two subcommittees of the Communist Party of India (Marxist) (CPM) have intervened in sanctioning benami loans, which resulted in the bank going in the red by Rs 344 crore.

The central probe agency, in its order provisionally attaching assets belonging to various individuals allegedly involved in the KSCB money-laundering case, said these committees intervened in sanctioning illegal loans with the connivance of top CPM leaders.

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Benami loans of Rs 188 crore given on the recommendation of top party leaders raised the bad debts of the bank to Rs 344 crore, the ED said in its order. These loans were given based on forged documents and inflated collateral values. It is also said these loans were given without the knowledge or approval of the bank’s governing body.

The digital and paper documents and testimonies found during the inspections conducted at the houses and establishments of former minister AC Moideen, CPM’s Vadakkanchery municipal councillor PR Aravindakshan and private moneylender P Sateeshkumar are part of the case file along with the ED order. All these three people are co-accused in the case.

Copies of statements given by former bank secretary TR Sunilkumar and former manager MK Biju, which said the CPM had political affairs and parliamentary affairs subcommittees to sanction benami loans to many by giving fake membership to them in the bank, have also been made a part of the order. The ED further said a separate minute book was kept for the meetings of these irregularly intervened committees.

On Friday, the ED provisionally attached assets worth Rs 57.75 crore belonging to various individuals involved in the scam.

The properties of Anil Kumar KB, Abdul Nazar, Abdul Gafoor, Gopalakrishnan, Pradeep KK, Rajeevan CM, Sunil Kumar KD, Amina Paliparambil, Paulson AJ, Ramesh PV, Davi Varghese, Anil Subash, Jilse CK, Satheeshkumar P and Aravindakshan PR were attached. Among these, Jilse C K, Satheeshkumar P and Aravindakshan PR are accused in the case and others are loan defaulters.