Kerala’s cooperative department has begun a probe into the alleged misappropriation of funds in the Thiruvananthapuram-based BSNL Engineers Cooperative Society, reports New Indian Express.
The society is supposed to have defaulted on repayment and interest payment on long-term and short-term deposits. Established in 1987, the society received deposits worth crores of rupees as it offered high-interest rates.
It is reported that the police have received over 50 cheating complaints from 550 people against the society.