Kochi | A court on Saturday accepted the supplementary chargesheet filed against 28 accused, including the CPI(M) and several of its leaders, in the money laundering case linked to the Karuvannur Service Cooperative Bank in Thrissur.
In May 2025, the Enforcement Directorate (ED) filed the supplementary chargesheet against 28 persons, including the CPI(M), Lok Sabha MP K Radhakrishnan, MLA A C Moideen, former CPI(M) Thrissur district secretary M M Varghese, and several local and area committee secretaries.
The Judge of the Special Court for Prevention of Money Laundering Act (PMLA) cases, Sabarinathan P, on Saturday accepted the supplementary chargesheet filed by the agency against the CPI(M) and several party leaders from Thrissur.
The case pertains to the alleged laundering of around Rs 180 crore through fraudulent loans issued by the Karuvannur Service Cooperative Bank.
The ED had initially filed a chargesheet against 55 accused before submitting the supplementary chargesheet last year.
The ED has so far attached properties and assets worth Rs 128 crore in connection with the case.
After hearing the ED and counsel for the accused, the court accepted the supplementary chargesheet. The court decided to issue summons to those named in the supplementary chargesheet and directed them to appear on July 4.
Of the total 83 accused in the case, two have turned approvers, while two others have died.
ED sources said they expect the court to commence the trial in the case soon.
Meanwhile, the CPI(M) in a statement said that ED’s move against its senior leaders in connection with the Karuvannur Cooperative Bank case was part of a politically motivated attempt to target and discredit the party.
In a statement, the CPI(M) state secretariat said ED’s move reflected a continuing effort to persecute the party's leaders in the name of the Karuvannur bank irregularities.
The party termed the decision to array the CPI(M) and those who had served as district secretaries at the time as accused in the case as unprecedented and politically motivated to malign popular leaders and weaken the party.
"People of Kerala are well aware of the public life and integrity of the leaders concerned and would not believe allegations that they were involved in corruption, looting, or money laundering. The leaders had in fact worked to expose those responsible for the irregularities in the Karuvannur Cooperative Bank and to protect the institution," the statement said.
The CPI(M) maintains that party leaders had supported the previous LDF government’s efforts against the accused, helped restore the bank's functioning and facilitated mechanisms to ensure that depositors received their money back.
"The facts relating to the alleged irregularities had come to light through investigations conducted by the state police and the Cooperation Department, and that the Crime Branch probe was already progressing when the ED entered the case," the statement said.
The party further alleged that the ED was acting in line with the political interests of the BJP-led Centre.
"Attempts to weaken the CPI(M) through investigations and legal proceedings would not succeed, and the party would fight the case both legally and politically," it said.
