Adoor Cooperative Bank in turmoil as president quits alleging scam

A contention has engulfed the CPI(M)-ruled Adoor Cooperative Bank pursuing reports of large-scale fiscal irregularities.

Amid the allegations, slope president Pon Thamara Pillai connected Monday announced her resignation from her post. Ms. Pillai is the woman of erstwhile legislator and seasoned CPI(M) person R. Unnikrishna Pillai.

Ms. Pillai said that irregularities amounting to ₹75 lakh person taken spot successful the bank, but maintained that she had nary relation successful oregon cognition of the misconduct. She besides alleged that definite individuals fabricated documents to unafraid a indebtedness successful different person’s name, which was aboriginal shared among leaders.

The resignation, coming successful the run-up to the Assembly elections, has enactment the Left Democratic Front (LDF) connected the defensive.

Meanwhile, Congress workers connected Monday staged a protestation successful beforehand of the bank, demanding a broad probe into the alleged corruption. Protesters raised slogans seeking accountability and strict enactment against those liable for the irregularities.