ED raid on Kandala Service Cooperative Bank in Kerala continues

PTI, Nov 9, 2023, 10:55 AM IST

The Enforcement Directorate (ED) raid on a cooperative bank in this southern Kerala district that began a day ago continued on Thursday.

The ED raided the Kandala Services Cooperative Bank near Kattakada here and several other locations, including the residence of its former president and local CPI leader N Bhasurangan.

Amidst the raids, Bhasurangan, who was being questioned by the ED, complained of uneasiness and was subsequently hospitalised.

He is presently admitted to the cardiac ICU of a private hospital here.

Following the raids, a CPI’s district committee member told reporters that it had taken action against him (Bhasurangan) in the past and has now expelled him from the party’s primary membership.

The ED raids, which have been underway for over 24 hours now, were following reports of alleged irregularities of several crores having been committed by the ex-president and some other officials of the bank.