Former President of Kandala Service Cooperative Bank and Administrative Committee Convener for Milma’s Thiruvananthapuram Region, N Bhasurangan, has been ousted from the Communist Party of India (CPI) amid allegations of involvement in a significant financial scandal. This decision follows the discovery of extensive misconduct during a raid conducted by the Enforcement Directorate (ED) at the Kandala Service Cooperative Bank.
The ED’s operation at the bank, which commenced early Wednesday morning, extended into its 27th hour on Thursday. Reports indicate that the ED conducted searches at the bank premises and the residences of former bank secretaries. The Department of Cooperation had previously uncovered malpractices amounting to Rs 101 crore at the bank and subsequently handed over the case reports to the ED, prompting their intervention.
CPI Thiruvananthapuram district secretary, Mangodu Radhakarishnan, explained the party’s response to the situation, stating that when the allegations first emerged, Bhasurangan was demoted to a lower party committee. However, in light of the ongoing ED raid, the party has now decided to expel him.
State Cooperative Minister VN Vasavan acknowledged that the ED’s findings mirrored those of the Kerala Crime Branch Police’s earlier investigations. As the ED continued its late-night operation, Bhasurangan experienced health issues and was subsequently admitted to a prominent private hospital in Thiruvananthapuram. The ED’s probe extended to multiple locations within the state capital, including the residences of former bank administration officials, in addition to Bhasurangan’s premises.
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