The Special Court in Kerala considering the bail application of CPI(M) councillor P.R. Aravindakshan and C.K. Jilse, the third and fourth accused in the Karuvannur Service Co-operative Bank fraud case registered by the Enforcement Directorate (ED), will pronounce its order on October 27, 2023 (Friday).
The court had earlier scheduled its order on the bail application on October 25 (Wednesday). However, the counsel for the ED submitted certain documents showing the involvement of Mr. Aravindakshan in the multi-crore scam when the case was taken up on the day. afternoon. The court then reserved its order to October 27.
The ED had arrested Mr. Aravindakshan, local committee member of the CPI(M) and health standing committee chairman of the Wadakkanchery municipality, in connection with the money-laundering case in the scam on September 26, 2023.
It was alleged that Mr. Aravindakshan has close links with P. Satheesh Kumar, the key accused in the case. He was also a close aide of A.C. Moideen, CPI(M) leader and former Minister.
The ED had arrested Mr. Jilse, a former employee of the bank, on allegations that he had committed a loan fraud to the tune of ₹5 crore.
