The High Court has issued a warning in a microfinance fraud case. The High Court has given one more month to complete the investigation. The court warned that this was the last chance.
Kochi: The accused is SNDP general secretary Vellapalli Natesan.The High Court has issued a warning in a microfinance fraud case. The High Court has given one more month to complete the investigation. The court warned that this was the last chance. Meanwhile, the prosecution was seeking time to respond to a motion to transfer the investigator in the case. The petition sought the transfer of SSP Sasidharan. The petition alleges that the investigation is taking forever and going in the wrong direction. M.S. Anil, a party to the case, filed a petition in the High Court, where the court also expressed dissatisfaction with the progress of the investigation. In one case, the investigation was completed, making Vellapalli an accused in the case.
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Earlier, a bench headed by Justice Badruddin had criticized the delay in investigating the case. In this case, in February last year, the vigilance went to Vellapalli Natesan’s house and questioned him. In 2016, an investigation into the case against Vellapalli Natesan was initiated following a complaint by V.S. Achutanandana. The corruption alleges that SNDG took out a multi-million dollar loan from Backward Development Corporation through a bogus scheme on behalf of the women. V.S. Achuthanandan alleged that Rs 15 crore was stolen in a financial manipulation conspiracy.
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