An Enforcement Directorate (ED) raid on Ayyanthole Service Cooperative Bank that began on Monday morning concluded by 8.30 a.m. on Tuesday, lasting 25 hours.
The agency reportedly examined the accounts of Satheesh Kumar, key accused in the Karuvannur Service Cooperative Bank loan scam, his relatives, and ‘benamis’ in the Ayyanthole bank.
N. Raveendranathan, president of the Ayyanthole bank, said all accounts of Mr. Satheesh Kumar were examined. There was no need for investors to panic about the ED raid, he said.
