Microfinance scam in Kerala: SIT files final reports in 17 cases
A special investigation team in Kerala has filed final reports in 17 cases related to a multi-crore microfinance scam involving the SNDP Yogam. While no irregularities were found in 30 cases, the investigation continues into the misappropriation of welfare funds.
Why it matters
The case involves significant allegations of financial corruption within a prominent social organization, impacting welfare funds for backward communities.
The special investigation team (SIT) inquiring into the alleged ₹15.85-crore microfinance scam involving Sree Narayana Dharma Paripalana (SNDP) Yogam general secretary Vellapally Natesan has filed final reports in 17 cases.
Of the 124 cases probed, no irregularities were found in 30 cases, S. Sasidharan, head of the SIT, informed the Kerala High Court on Monday.
Mr. Sasidharan clarified that it had been decided to file a consolidated final report on all the cases in which no irregularity was detected. He further informed the court that the investigation had disclosed specific instances of misappropriation of funds intended for eligible beneficiaries in the Pulappally, Ranni, Mananthavady, Kunnathunadu, Kanayannur, Chittoor and Taliparamba unions. Steps to prosecute the offenders were being taken in these cases, he told the court.
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