March 12, 2025 • Makkal Adhikaram
We had published a report in makkal adhikaram media about the financial loss caused by the DMK government to the Kancheepuram Central Cooperative Bank. In view of this news, the Registrar of Cooperation and Additional Registrars in the Cooperative Department have been transferred. but
The bank’s managing director A.K. Only Sivamalar has not been transferred or taken any action against him. Why is this political interference? Or will the co-operative minister intervene? Is that the question of the Co-operatives of the Central Bank of Kancheepuram? Also, A.K.Sivamalar’s mistake is that there is no need for glasses for hand ulcers. It’s like that. so
We are obliged to bring this to the notice of the Secretary of the Co-operative Bank and the Registrar of Co-operative Societies in the Secretariat and again to inform the attention of the public about the corruption and fraud reported by the co-operatives of the said bank on the website and in our People’s Power magazine.
i.e. AK. On 4.7.2024, Sivamalar spent Rs 12,75,25,171 in the bank account for the purchase of furniture & fittings i.e. chairs, tables and related furniture for the bank.
Further, the value of furniture and fittings (excluding wear and tear) i.e. furniture and fittings (excluding depreciation) in the head and all branches of Kancheepuram Central Co-operative Bank is 2,74,62,422. That’s the amount given in the balance sheet. Here, there is a difference of about four times between the value of furniture in the bank and the amount withdrawn from AK Sivamalar Bank.
Apart from this, an expense account of Rs 1 crore, 36 lakh has been written to the bank for the purchase of vehicles on the same date. You should have brought the details of the goods purchased here to the bank and showed it. Neither did the objects. Besides, about Rs 14 crore in which account? Or on whose account? Was it credited?
The company that bought the vehicles directly? Or a furniture and fittings company? In which companies in one day? How much amount? Transfer from Kancheepuram Central Cooperative Bank account to company accounts? If you take the full details of it, the corruption committed by Sivamalar will definitely come to light.
Ezhumalai, who is in the audit wing of the same bank, should be included as a key member in the investigation. Because he’s the one who knows. On whose account? Has this money been accumulated?
Krishna Kumar, the internal auditor of the bank, said that the regular audit officers should have detected the scam and informed the higher authorities. Moreover, Elumalai, who is the audit manager of these banks, should have informed the higher authorities about this.
Besides, all these accounts are hidden by C. Co-operatives say that this audit manager Elumalai is engaged in reconciling the accounts with educated auditors. Therefore, he should be immediately transferred from there and an honest audit manager should be appointed for the said bank.
The co-operatives of the Kancheepuram Central Cooperative Bank have also informed the higher officials of the bank to find out how many crores of rupees the said audit manager Elumalai has caused to the bank in connivance with them in eight years.
.jpeg)
Director general of audit arun sunder dyalan .
Since this is a huge scam, a team headed by Director General of Audit Arun Sundar Dayalan will examine the scam and find out who the money was deposited in the bank account and on what date. Who? Has the account been transferred? We need to find out.
Also, A.K. Sivamalar has made a mistake again. What is it? Any expense in the bank should be decided and withdrawn from the bank only after approval. But, A.K. Sivamalar takes away the above amount on 4.7.2024 and then makes a decision. Even if the decision was made, it should have been shown to the bank officials that the purchase was made that day. Not even that.
Moreover, after writing an account of the purchase of these furniture and new vehicles, and then a resolution was passed in the Assembly seeking permission, how much money is in the hands of the bank here? Or to whose company? How much money has changed hands?
Also, 27. In the 110th General Assembly Meeting of the Kancheepuram Central Co-operative Bank held on 9.2024, among the 23 items placed for consideration of the Council, the following two items for which permission was sought. Request for approval in the resolution copy for purchase of a new Innova vehicle for the use of the Bank at a tentative cost of Rs.34 lakhs after obtaining the approval of the Joint Registrar of Cooperative Societies, Kancheepuram Region.
Item No.14 Obtaining the approval of the Joint Registrar of Co-operative Societies, Kancheepuram Regional for the purchase of two new Bolero Diesel Vehicles for recovery of overdue debts of the Bank.
Determination Errors:
One Innova, two Bolero and two together are priced at around Rs 60 lakh. Besides, Rs 1.36 crore and Rs 12 crore and Rs 77 lakh were shown in the bank account without the prior approval of the regional joint registrar. A resolution to this effect was not passed by the general body.
So, whose bank account has the money gone? Only the censor department officials can investigate this thoroughly and find out the truth.
Apart from this, what is the need for Elumalai, who is the audit manager of the bank, to work in the same place for more than 8 years? Because once in three years, any department officer in Tamil Nadu has to be transferred, but what is the reason for Ezhumalai being an audit manager in the cooperative bank for eight years?
And what scandals has he done in these eight years? Has he caused financial loss to the bank by doing so? The Director General of Audit should examine this and take action.
Even if a small material is to be purchased for the head office and branches, the development wing should prepare a file for the same and the file should be properly completed with the approval of the clerk, assistant manager, manager, assistant general manager, general manager and then managing director.
Before that, permission has to be obtained from the concerned Regional Joint Registrar. Pushpalatha, a manager working in the development wing of the bank, when enquired about the above Rs 14 crore, gave false information that depreciation registration of furniture and vehicles was done.
But, 4.7. Looking at the 2024 record, it does not appear to be a depreciation record. Instead, purchases have been recorded. To make a purchase, you should have created and made a purchase of several files mentioned above.
The Managing Director of the bank, Sivamalar, said that the money spent on the purchase of such huge furniture and vehicles
PUSHPALATHA
In the account, how much has he looted? The Managing Director Sivakumar, Audit Manager Elumalai and Pushpalatha should be included in the investigation ring and the Director General of Audit should investigate the accounts and the real details of how the 14 crore scam took place.
If the truth of this news is understood by the DMK government, the Minister for Cooperation, the Secretary of the Cooperative Department and the Registrar of the Cooperative Department, it is better to understand the truth of this news that a person who is a co-operative member has decided to file a public interest litigation in this regard if proper investigation and action is not taken on the above scam.
