The ED raided the residence of N Bhasurangan, a local leader of the CPI and the bank’s former president, as well as several other locations near Kattakada
The Enforcement Directorate (ED) raid continued for the consecutive second day on Kandala Service Cooperative Bank in the district of southern Kerala. In addition to this location, the ED also raided the residence of N Bhasurangan, a local leader of the CPI and the bank’s former president, as well as several other locations near Kattakada.
Local CPI leader Bhasurangan was kicked out of the Left party’s primary membership as the raids went on. A Thiruvananthapuram district committee member of the party informed the media of his expulsion. A member of the CPI’s district committee stated that the party had previously taken action against Bhasurangan.
Additionally, Bhasurangan lost his job as convenor of the Kerala Co-operative Milk Marketing Federation’s (KCMMF) Administrative Committee. KCMMF is a company that sells goods under the Milma brand.
The ex-president and a few other bank officials were allegedly accused of committing irregularities totalling several crores, which prompted the ED raids that have been going on for more than a day.