Wednesday, November 25, 2015

VS levels Rs 11k cr graft charge against Vellapally

THIRUVANANTHAPURAM: Continuing his tirade against SNDP Yogam general secretary Vellapally Natesan, Opposition leader V S Achuthanandan alleged on Wednesday that the secretary had committed a corruption to the tune of Rs 11000 crore through Microfinance and appointment of teaching-non-teaching staff in colleges under SN Trust. 

He said at a press conference here that he would move court, seeking an inquiry into Microfinance corruption.  

“Through Microfinance alone, the corruption of Rs 5000 crore was committed by Vellapally. When the norms say only five percent interest can be charged on loans, he charged 18 percent interest. Moreover, in the name of microfinance, crores of rupees was taken as loan from public sector units. For the recruitment of teachers under S N Trust he took Rs 600 crore as bribe and he took Rs 904 crore for the appointment of nonteaching staff. About two lakh gullible women were deceived in the name of Microfinance,” V S alleged. 

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