7 months ago
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An bid issued by the Joint Registrar (General) of the Kerala Cooperative section successful January 2023 demanding Bharatiya Janata Party (BJP) State wide caput S. Suresh and different office-bearers to pay a full of ₹4.16 crore to marque up for the society’s losses sustained by the BJP-controlled Peringammala Labour Contract Cooperative Society surfaced successful the nationalist sphere connected Monday (December 1, 2025).
Mr. Suresh had connected November 19, 2025 dismissed the allegations erstwhile a portion of the bid became public. However, the elaborate study of 25 pages has details contradicting his assertions.
The study lists respective irregularities, including not returning the wealth erstwhile demanded by investors, deficiency of due ledgers, disbursal of loans without pursuing norms oregon the stipulated collateral and non-initiation of arbitration proceedings successful cases wherever it was required. The section ordered an probe into the cooperative’s functioning aft investors had failed to person their wealth erstwhile demanded owed to assorted irregularities.
As per the department’s findings connected the irregularities successful the cooperative, the office-bearers, done acts violating the Kerala Co-operative Societies Act, 1969 and the society’s ain bylaws, had caused a full nonaccomplishment of ₹4.16 crore. Each of the office-bearers person been ordered to repay assorted amounts on with 18% involvement from the clip of the money misappropriation successful 2013, to marque up for the society’s losses.
While the nine president and RSS person G. Padmakumar has been ordered to wage ₹46.48 lakh, the nine vice president Mr. Suresh is required to wage ₹43.34 lakh.
The losses to the nine person been caused chiefly done a monthly concern scheme, disbursal of loans nether the Akshayasree strategy and done commissions to postulation agents.
Suresh reiterates earlier basal
When contacted, Mr. Suresh reiterated his earlier basal and dismissed the allegations arsenic “part of an predetermination stunt.”
“All this happened 10 years ago. It does not person immoderate relevance anymore. I resigned from the governing assemblage of the nine connected July 26, 2016. The section study is of 2023-24, the proceedings connected which the High Court had stayed earlier this year. I person nary liabilities with the cooperative society,” helium said.
