Kochi, April 9 (IANS) Senior CPI-M leader and former Kerala Minister K. Radhakrishnan on Wednesday dismissed media reports suggesting he was questioned for several hours by the Enforcement Directorate (ED), calling them a “false narrative.”

“I was questioned for just an hour. I had already submitted all the required details to the ED beforehand, which made the process smoother and gave them enough time to verify my statements,” said Radhakrishnan, who is also a former Speaker of the Kerala Legislative Assembly.

Radhakrishnan entered the ED office here around 11 a.m. on Tuesday and left around 8 p.m., which fuelled speculation that he was interrogated for several hours.

He was summoned in connection with the over Rs 300 crore Karuvannur Service Co-operative Bank fraud case, in which several senior CPI-M leaders from the state and Thrissur district have been questioned.

So far, 53 people have been named as accused in the case, many of whom were arrested and later released on bail.

Radhakrishnan’s interrogation comes as the ED is preparing to file its final charge sheet.

At the time the scam came to light, Radhakrishnan was serving as the CPI-M’s Thrissur district secretary — a key reason for his summons.

“I had clearly stated that no new bank account was opened in the name of the CPI-M Thrissur district committee during my tenure. I believe the ED officials were convinced by my explanation,” he said.

“I was called, and I have deposed. Now, whether I will be a witness or an accused — that is for the ED to decide,” added the soft-spoken only CPI-M Lok Sabha MP from Kerala right now.

Other senior CPI-M leaders who have already been questioned in the case include former ministers A.C. Moideen and M.K. Kannan, along with several other party leaders from Thrissur.

The ED investigation is based on an FIR filed by the Kerala Police under Section 420 (cheating and dishonestly inducing delivery of property) of the IPC.

The Crime Branch has registered more than 16 FIRs related to the Karuvannur bank fraud in the Thrissur district.

According to the ED, loans were fraudulently sanctioned and disbursed to individuals and their benamis by the bank. These loans were approved as part of a systematic conspiracy allegedly involving the bank secretary, committee members, and the manager, operating in collusion since 2010.

Investigators found that multiple bogus loans were sanctioned on the same properties — often without the knowledge of the bank’s members — and that loans were granted to non-members against inflated property valuations. The funds were then siphoned off and laundered by the accused.

The ED has also alleged that the loan disbursements were done at the behest of CPI-M district committee members who controlled the bank’s governing body.

So far, the ED’s Kochi Zonal Office has provisionally attached assets worth Rs 10.98 crore in connection with the case. This includes one movable asset and 24 immovable properties — land and buildings located in Kerala. Of these, the immovable properties are valued at Rs 10.48 crore, while the movable asset, a cash deposit, is worth Rs 50.53 lakh.

–IANS

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