The Congress leadership which has been campaigning hard against the Communist Party of India (M) [CPI(M)] over the Karuvannur cooperative bank scam appeared to have been caught on the defensive at least in Thiruvananthapuram district after a group of investors of a cooperative society staged a protest in front of Congress leader and former Health Minister V.S. Sivakumar’s residence at Sasthamangalam here on Sunday morning, accusing the leader of having links with with those running the society. They alleged that the society failed to return their investments despite repeated demands.
Refuting the allegations, Mr. Sivakumar told presspersons that he will pursue the matter legally. He stated that his only connection to the bank was his participation in the inaugural function several years ago and that it was unfair to take out protest marches to the house of the person who inaugurated the bank.
The investors, including women, of the Thiruvananthapuram District Unemployed Social Welfare Cooperative Society gathered in front of Mr. Sivakumar’s house on Sunday morning and claimed that a total of 300 investors had lost a cumulative amount of around ₹13 crore. Though they had raised the demand for their deposited money several times over the past two years, the society had failed to honour it. The protestors, who claimed to have invested a few lakhs each, alleged that the society President was acting as a benami of Mr. Sivakumar. After a while, Left party workers too joined in the protest.
“I had inaugurated the bank when I was the District Congress Committee president. I have inaugurated numerous such banks over the years. The accused person was not my staff member during my tenure as a Minister, as is being claimed,” said Mr. Sivakumar.
