FIR against Kerala's controversial SNDP leader in fraud case

 In a big set-back for the BJP-led National Democratic Alliance in Kerala, Kerala Vigilance and Anti-Corruption Bureau (VACB) has registered a FIR in a micro-finance fraud case against Sree Narayana Dharma Paripalana (SNDP) Yogam General Secretary Vellappally Nateshan, who was the star campaigner of the alliance in the Assembly elections. 
 

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The Vigilance team that probed the allegations of cheating in the Microfinance venture initiated by the SNDP filed the FIR with Nateshan as the prime accused along with four co-accused. SNDP leaders MN Soman and KK Mahesan and Kerala State Backward Classes Development Corporation office bearers Najeeb and Dileep are the other accused in the case that alleges financial fraud and conspiracy against them. The VACB had informed the vigilance court on the other day that it had collected evidence to file the FIR against the SNDP leader. It had also sought more time to file a report. 

The case pertains to a petition filed by CPM leader and former Chief Minister VS Achuthanandan who alleged fraud to the tune of many crores of rupees in the microfinance scheme of the SNDP Yogam. The complaint stated that the SNDP took loan worth Rs.5 crore from Kerala Backward Classes Development Corporation at just 3% as interest and disbursed it among the microfinance beneficiaries for  a higher interest that went above 10%. Besides, most of the money went to fabricated micro-finance groups, it said.  
 

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The microfinance fraud emerged as a major political controversy after Nateshan decided to truck with the BJP in the civic body polls last year in Kerala. The Left parties and the Congress came out strongly against Nateshan in the issue. Nateshan later floated Bharat Dharma Jana Sena (BDJS), a new political outfit with his son Thushar Vellappally as the chairman. The BDJS  is the second biggest partner in the NDA Kerala. Besides, Nateshan was also the star campaigner for the NDA in the state Assembly election. 

• Microfinance fraud
• Vellappally Nateshan
• FIR against Vellappally Nateshan
• SNDP Yogam
• BDJS