WhatsApp Image 2023-02-26 at 9.49.20 AM (1)
WhatsApp Image 2023-02-26 at 9.49.20 AM

CPM’s secret accounts in Karuvannur bank: ED

Kochi: The CPM has five illegal secret accounts in the controversial Karuvannur Cooperative Bank in Thrissur, the Directorate of Enforcement (ED) said.
The ED handed over the details of these accounts to the RBI, the Election Commission and the Finance Ministry. The CPM has not disclosed the details of the 25 accounts in different cooperative banks in Thrissur district.
The party had disclosed in its balance sheet, audit of which was conducted in March, 2023.
As per the Cooperative Societies Act, it is essential to take a membership in the Society to open an account. On the contrary, the CPM had not taken membership in the Karuvannur Society, the ED said.
These accounts were used by the CPM to purchase land for party offices and collect party funds, the ED said.

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