Kochi, June 20 (IANS) In a major development in the controversial microfinance irregularities case, the Vigilance Director has approved the first chargesheet against SNDP Yogam General Secretary Vellappally Natesan, marking a crucial step in a long-running probe involving one of Kerala’s prominent community leaders.

The Vigilance department informed the Kerala High Court that the chargesheet has been finalised in connection with alleged financial irregularities in the disbursal of a Rs 10 lakh loan to the Wayanad SNDP Union in 2014.

Vellappally, SNDP Yogam President M.N. Soman, office-bearers of the Wayanad Union and government officials are among those named as accused.

Since the Vigilance department has invoked provisions of the Prevention of Corruption Act, the department will now seek prosecution sanction from the state government before moving ahead with trial proceedings.

The development comes days after the High Court expressed strong displeasure over the delay in the investigation.

A single Bench had criticised the Investigating Officer, SP S. Sasidharan, for failing to submit progress reports despite repeated directions.

The court expressed its displeasure over the delay.

The case originated from a complaint filed in 2016 by former Chief Minister V.S. Achuthanandan, alleging that funds meant for poor women beneficiaries were diverted through fraudulent microfinance schemes.

The complaint alleged that loans worth crores were obtained from the Kerala State Backward Classes Development Corporation in the names of women through fabricated projects and that around Rs 15 crore was misappropriated through conspiracy and financial manipulation.

The Vigilance has also completed investigations into two other cases registered against Vellappally, while probes are continuing in nearly 70 more cases.

The case had attracted considerable political attention because of the stature of those involved and the allegations surrounding the functioning of microfinance schemes linked to SNDP Yogam.

With the first chargesheet now receiving approval, the investigation enters a critical phase, with the next step depending on the government’s decision on prosecution sanction.

It must be recalled that Natesan and former Chief Minister Pinarayi Vijayan had an excellent relation and even when a majority section of the rank and file of the CPI(M) had expressed its ire against the way the then CM was moving around with Natesan, Vijayan never took heed.

Now, this fresh move has come soon after the new V.D. Satheesan government took over last month and Natesan has been always critical of Satheesan.

–IANS

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