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Kerala: Vigilance gives clean chit to Vellappally Natesan in microfinance fraud case

The vigilance has given a clean chit to SNDP Yogam General Secretary Vellapally Natesan in a microfinance fraud case. The petitioner alleged that more than Rs 15 crore of irregularities were committed in the microfinance fraud committed by SNDP union branches.

Kerala: Vigilance gives clean chit to Vellappally Natesan in microfinance fraud case rkn
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First Published Feb 6, 2024, 8:52 AM IST

Thiruvananthapuram: The vigilance has given a clean chit to SNDP Yogam General Secretary Vellapally Natesan in a microfinance fraud case. VS Achuthanadan filed the case against Vellapally Natesan. The Thrissur Vigilance Court has sent a notice to Achuthanadan asking him to inform if there is any objection to the closure of the case.

The petitioner alleged that more than Rs 15 crore of irregularities were committed in the microfinance fraud committed by SNDP union branches. The complaint also pointed out that the loan taken from the Backward Welfare Corporation was defrauded by being it at a huge interest rate. The Vigilance, after conducting a preliminary investigation and finding the irregularity, filed a case against Vellappally as the first accused. Vigilance has investigated 124 cases across the state.

As per the High Court's instructions, Ernakulam Range SP Himendranath coordinated the investigations. Five incidents have been chosen to be documented by Vigilance. The government has received the money that was provided as microfinance loans, and there have been no irregularities discovered in the payments made to the lower level, according to the current vigilance findings. The probe is nearing its conclusion in each of the 54 cases. The report supports Vellapally in these circumstances. The court will shortly receive these reports as well.

When the vigilance investigation dragged on in the microfinance case, VS approached the High Court. The vigilance, which had informed the court that there was evidence against Vellapally and that a case had been registered and an investigation had been started, has now informed the court that there is no evidence. After the BDJS joined the BJP, the CPM intensified its accusations against Vellappally. A state-wide investigation was started during the first Pinarayi government. The government has also appointed Vellappally as the chairman of the Kerala Revival Protection Committee during the investigation. 

During the investigation, the Vigilance recovered the money from all the branches and withdrew from the probe. The Thrissur Vigilance Court issued a notice to V.S. Mahesan, the micro-finance coordinator, who committed suicide while under investigation. Vellapally and Tushar were accused of being behind the suicide, which was tied to financial issues. The Crime Branch is currently investigating this suicide case.

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