The decision to expel Bhasurangan was taken in the CPI district executive committee meeting held here on Thursday.
The ruling CPI in Kerala has expelled former Kandala Service Cooperative Bank president N Bhasurangan after being detained by the Enforcement Directorate over money laundering charges.
The decision to expel Bhasurangan was taken in the CPI district executive committee meeting held here on Thursday.
Bhasurangan is accused of swindling Rs 101 crore from the bank from 2015-2021.
Advertisement
The Enforcement Directorate (ED) sleuths on Wednesday raided the Kandala Service Cooperative Bank and residences of former and serving bank officials following complaints of corruption and mismanagement.
The ED carried out the raids after the agency got complaints on the financial irregularities and loan frauds in the Kandla bank . The Cooperative Registrar had earlier handed over the reports regarding the loan fraud case to the ED.
Meanwhile, senior Congress leader and former KPCC general secretary K K Abraham was arrested by the investigation agency on Wednesday in connection with the fraud in Pulpally Service Cooperative Bank. It is estimated that a fraud of Rs 8 crore took place in the bank, which came to light when a farmer committed suicide over mounting debt.
Advertisement
