Kerala govt. opposes plea for CBI probe into the Karivannur Bank fraud

CBI probe will demoralise the police force, the affidavit filed by the State government said

There is no necessity to transfer the investigation into the fraud in the Karuvannur Service Cooperative Bank at Irinjalakuda in Thrissur district to the Central Bureau of Investigation(CBI) as thethe case in an effective and fair manner, according to an affidavit filed by the State government on Wednesday before the Kerala High Court Opposing the plea for a CBI probe into the case, the State government submitted that if the investigation was handed over to the CBI, it would adversely affect the morale of the police as a whole. The petition, seeking a CBI probe into the case, was filed by M.V.Suresh, a former employee of the bank, alleging that as the bank was managed by a committee owing allegiance to the , an investigation by the police or the Crime Branch would not be fair. In fact, around ₹300 crore had been siphoned off from various accounts of the bank at the behest of the managing committee of the bank.