January 25, 2025 • Makkal Adhikaram
Kancheepuram Central Cooperative Bank Managing Director A.K. Sivamalar 15.3. Kovaralakshmi, who was working as a manager in the same bank, has lodged a complaint against him regarding the financial loss caused to the Kancheepuram Central Cooperative Bank from the day he joined the service from 2024 to 30.11.2024.
A. K. SIVA MALAR
Co-operative Registrar Dr. Subbayan and Managing Director A K Sivamalar should investigate the complaint and take action. Politics? Also, the bank’s manager Co. Varalakshmi has been dismissed for not collecting the loan. Can a bank manager be suspended for non-payment of loan as per due date? Moreover, none of the bonds of loans given by him have expired.
One bank manager has to recover the loan from the next bank manager. Is he solely responsible if the bank loans given during his time are not recovered? Isn’t the next manager responsible? Can a person be suspended without knowing anything, without knowing any legal scheme of the bank, beyond the jurisdiction?
Also, will the higher authorities take action against A K Sivamalar for doing so? Managing Director A.K. What action will the Co-operative Registrar Dr. Subbayan take regarding the loss of crores of rupees to the bank? That’s 4.7. An expenditure account of 12,77,25,171.77 on purchase of furniture to the bank as on the date of 2024 has been shown.
i.e. furniture fixtiure and fitting purchased as on 4.7.2024. Further, the value of the luggage of this head head office and all branches as on 31.3.2024 is Rs 2,74,62,422.99 (excluding depreciation) Also, how come these furniture items were purchased for 12.77 crores in a single day in a single year? It is clear that there has been a huge scam.
Apart from this, on the purchase of vehicles for the bank on the same date, an account of 1,36,16,009 has been maintained with the bank. Can you show that 14 crores of furniture was purchased for the bank on a single date? Have the managing directors in the cooperative sector made any purchases in any year? Or have they written such a huge expense account? The next is what it is staged by a major legal fraud
Krishnakumar (Internal auditor)
On what date did he decide on the purchase of these furniture? Did he send the money to the company or shop where the furniture was purchased without making a decision? Similarly, which company has purchased vehicles for the bank? Photos of the car? Cab registration numbers? Did the Internal Auditor Krishna Kumar examine the details? On what date was the inspection done? What action is Dr. Subbaiyan, the co-operative registrar of the bank, going to take on the bank’s financial loss…….?
