Karuvannur Coop Bank rip-off: Borrower discovered useless after getting Rs 80 lakh restoration discover

By Express News Service
THRISSUR: Amid controversy surrounding the Rs 300 crore fraud at Karuvannur Cooperative Bank in Thrissur district, a person who took a mortgage from the financial institution was discovered useless at his residence at Thelappilly close to Karuvannur on Thursday.

T M Mukundan, 57, who’s a former panchayat member of Porathissery panchayat, was discovered hanging in his home. He had taken a mortgage from Karuvannur Cooperative Bank a couple of years in the past. As he did not pay the curiosity again, the financial institution had despatched him an attachment discover indicating that it might proceed to recuperate the quantity by promoting the pledged property. The financial institution’s misappropriation of funds and fraudulent actions whereas sanctioning loans have been just lately below the scanner.

Meanwhile, his family members alleged that he had taken solely Rs 25 lakh as mortgage, however the discover issued by the financial institution requested him to pay Rs 80 lakh. The family members additionally alleged that although Mukundan tried to settle the mortgage quantity, the discussions with the financial institution did not go properly, particularly after the fraud transactions got here out. It can be alleged that a number of mortgage defaulters of the financial institution have been issued with restoration notices after the rip-off was unearthed. 

(If you’re having suicidal ideas, or are apprehensive a couple of pal or want emotional help, somebody is at all times there to pay attention. Call Sneha Foundation – 04424640050 (accessible 24×7) or iCall, the Tata Institute of Social Sciences’ helpline – 02225521111, which is out there Monday to Saturday from 8 am to 10 pm.)