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Grave corruption in SNDP’s micro finance project: VS

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Grave corruption in SNDP’s micro finance project: VS
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Thiruvananthapuram: Continuing his tirade against Sree Narayana Dharma Paripalana Yogam (SNDP) General Secretary Vellapply Natesan, CPI-M veteran V S Achuthanandan Wednesday levelled serious corruption charges in the micro-finance scheme run by Yogam and sought a CBI probe into it.

Addressing a press conference here, Achuthanandan said SNDP, organisation of numerically strong backward Ezhava community, gets funds from National Backward Corporation at an interest rate of two per cent.

This was disbursed by SNDP at a huge interest of 12 per cent when rules stipulated that only five per cent interest has to be charged, Achuthanandan, state opposition leader said.

"CBI should probe this fraud', Achuthanandan said adding Natesan was siphoning off the funds meant for poor people in the community".

Achuthanandan alleged that SNDP refused to part with loan records with state government officials who went for inspection.

"Even though the state government knew all these things, Chief Minister Oommen Chandy is not taking any action on the matter", he said.

Achuthanandan had last week alleged that Natesan had taken crores as bribe for appointments in colleges run by SN Trust and also for students admission in these institutions.

Leaders of SNDP, CPI-M and Congress were on war of words since past few days after Yogam began cosying upto BJP.

Meanwhile, continuing his cards about formation of new political party, Natesan said Yogam has no link with any political party including BJP. SNDP will not form a political party on its own, he said.

He also said Yogam's present focus was on the Yatra scheduled to be taken out by SNDP from Kasargod to Parasala.

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