Opposition leader V S Achuthanandan on Wednesday alleged grave irregularities in the microfinance scheme run by Hindu Ezhava leader Vellappally Natesan through Sree Narayana Dharma Paripalana Yogam.
Achuthanandan said Natesan was taking credit from the National Backward Development Corporation at the rate of two percent interest. But, he was refinancing the amount at an exorbitant rate of 12 per cent interest, in violation of the guidelines.
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The CPM leader said Natesan had used the microfinance fund for his personal interests after creating fake addresses. Natesan has been pocketing the aid meant for poor people from the ezhava community, he alleged.
“Chief Minister Oommen Chandy failed to take action against this scam. I would approach the court if the government failed to go for a CBI probe, ” said Achuthanandan.
Natesan did not respond to the allegations, but said that the CPM was worried over the SNDP move to float a third front.
Earlier, Achuthanandan had alleged that Natesan had pocketed Rs 100 crore in last four years as bribe from appointments at educational institutions under SNDP and SN Trust.
Ever since the BJP had tried to reach an electoral understanding with SNDP in the local body elections, CPM has been consistently attacking Natesan.