In a key step towards restitution, the Enforcement Directorate (ED) on Thursday handed over attached assets of the accused in the Kandala Co-operative Bank case to the bank at its Kochi zonal office, media reports say.
The probe began in 2023 against then-president N Bhasurangan and others under PMLA, following multiple FIRs for cheating.
ED found they misused funds through irregularities. Searches in November 2023 led to seizure of gold, a vehicle, electronic devices and documents. Assets were restored under Kerala HC orders.
