In a politically charged election watched across Kerala, the Left Democratic Front (LDF) secured a decisive victory in the governing body polls of the Karuvannur Service Cooperative Bank, winning all 13 seats on Sunday.
The cooperative bank has been under administrative control since 2020 following allegations of a major loan scam. Despite the controversy that once cast a long shadow over its functioning, the LDF staged a complete sweep, signaling a strong grassroots comeback.
Leaders of the Communist Party of India (Marxist) in Thrissur confirmed that the LDF panel, comprising nominees of the CPI(M) and the Communist Party of India, defeated candidates of the Bharatiya Janata Party in 11 contested seats, with victory margins reportedly hovering around 1,100 votes.
The Congress-led United Democratic Front chose to stay away from the electoral contest.
Of the bank’s more than 13,000 members, 3,039 exercised their franchise in the polls.
The bank had previously drawn national scrutiny after the Enforcement Directorate alleged that nearly Rs 180 crore had been siphoned off, naming several CPI(M) leaders during the course of its investigation.
