CPM controlled day-to-day affairs of Karuvannur bank: ED chargesheet

THE Enforcement Directorate (ED) has found that the CPM local and district leadership directly controlled the day-to-day operations of the Karuvannur Service Cooperative Bank.

- TOBY ANTONY @Kochi

This was stated in the ED chargesheet filed before the Prevention of Money Laundering Act (PMLA) court in Kochi on Monday.

The central agency's investigation into the high-profile money laundering case surrounding the bank found that two informal committees operated above the bank's official governing body to oversee daily affairs: the 'Party Sub Committee @ Parliamentary Party Fraction' and the 'Parliamentary Party Committee'.