Kochi, 14 August (H.S.):The Kerala High Court will on Friday further consider the alleged microfinance fraud case involving SNDP Yogam general secretary Vellappally Natesan and several others.

The court had earlier criticised the Vigilance and Anti-Corruption Bureau for submitting a report that lacked clarity on crucial aspects of the investigation. It directed investigating officer and Vigilance Superintendent of Police Sasidharan to appear before it in person on Friday and provide an explanation.

The case relates to grants extended by the National Bank for Agriculture and Rural Development through the Kerala State Backward Classes Development Corporation to help economically disadvantaged women establish small enterprises.

Investigators alleged that beneficiaries were charged excessive interest on the funds, resulting in financial irregularities, corruption and fraud against the government. The High Court sought the investigating officer's personal appearance to obtain greater clarity regarding the allegations and the progress of the probe.

The court observed that the Vigilance report did not even clearly specify the number of cases registered in connection with the alleged fraud.

The Vigilance SP had informed the court that charge sheets had been prepared in 17 cases. The agency was also attempting to consolidate cases involving similar allegations and submit combined charge sheets.

A total of 124 cases have been registered across Kerala in connection with the alleged microfinance irregularities. Apart from Vellappally Natesan, SNDP Yogam president M.N. Soman and several others have been named as accused.

The High Court is considering an interlocutory application filed by M.S. Anil, a resident of Mararikulam and the complainant in the case. He has sought directions to the Vigilance to expedite the investigation and complete the proceedings without further delay.

A Bench headed by Justice Badharudeen had previously expressed displeasure over the prolonged delay in completing the investigation.

The probe against Natesan was initiated in 2016 following a complaint submitted by former Kerala chief minister V.S. Achuthanandan.

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Hindusthan Samachar / Arun Lakshman