The administrative panel of the Karuvanthiruthy Service Cooperative Bank has levelled charges of corruption against C.N. Vijayakrishnan, former chairman of Calicut City Service Cooperative Bank and chairman of MVR Cancer Centre, reports Hindu.
K.M. Basheer, the new chairman, says Vijayakrishnan had drawn the bank into legal wrangles. Vijayakrishnan and his friends had used cooperative bodies as a cover for their unlawful deeds, he added.
The audit by the Department of Cooperatives at the Calicut City Cooperative Bank revealed that the bank had disbursed Rs 650 crore as loan to loss-making MVR Cancer Center.