Fresh allegations of financial irregularities hit Kannur CPM; Where is the money raised for college go?

KANNUR: The Kannur unit of the CPM is facing yet another allegation of financial irregularities. The investors stepped forward with complaints against the North Malabar Educational Society, which is controlled by the party. CPM and DYFI leaders from Iritty hold key posts in the charitable society. Binoy Kurian, vice president of the Kannur District Panchayat, is the president of the society. The trust was registered in 2015 with Iritty as its headquarters, under the leadership of the Iritty CPM area committee at the time.

The society collected money ranging from Rs 1,000 to Rs 1 lakh from more than 10,000 people after promising to establish a college. The fundraising was carried out using the party's organisational network. However, even after several years, construction of the institution has not begun, nor has suitable land been purchased. There is also no clear information about what happened to the money collected and following this, the investors filed complaints.

They are demanding that work on the proposed college be started as soon as possible or that the money they invested be returned. It is learnt that the issue was discussed in the last area meet. However, society president Binoy Kurian said the allegations are completely baseless. He explained that 38 cents of land had been purchased near Iritty town for the construction of the college and that the society would proceed with the project.