The Kerala High Court in the case Rajendra Kumar v. State Police Chief & Ors observed wherein the plea is moved seeking investigation of the Kandala Service Co-Operative Bank scam to be entrusted to the Crime Branch or in the alternative seeking constitution of the Special Investigation Team in order to conduct the probe in the matter.
The bench headed by Justice P.V. Kunhikrishnan in the case observed and seek response of the State in the matter.
In the present case, the issue raised relates to the siphoning off an amount of over Rs 180 crores in the Saving Bank Accounts and the Fixed Deposits of the depositors by office-bearers of the Co-operative Bank which is during the period 2018-2023.
The counsel, Advocate Nikhil Sankar S moved the plea wherein averred that the petitioner had made deposits in the savings Bank amounting to Rs. 4.4 Lakhs, and a fixed deposit for an amount of Rs. 10 Lakh, which had been matured in the year 2023.
It has also been stated by the petitioner in the plea that despite of the maturity period of the scheme, the office bearers of the Co-Operative Bank refused to return the money or the interest, thus, thereby jeopardizing the future prospects of his family.
It has also been alleged by the petitioner in the plea that the office bearers of the Bank had siphoned off more than Rs. 180 Crores with the fraudulent intention in order to cheat the petitioner as well as the other depositors.
Further, the petitioner also stated in the plea that the enquiry conducted by the Registrar of Co-operative Societies also revealed the malpractices of the office bearers of the Bank.
The petitioner in the plea claimed that so far, no proper investigation has been conducted by the Maranalloor Police in the said matter, nor have the statements of any of the material witnesses been recorded.
The petition filed also stated that the irreparable injuries and the serious hardships will be caused to the petitioner if a proper investigation is not conducted.