Central Bureau of Investigation has begun a probe into allegations that the Cardamom Marketing Corporation cheated banks and cardamom growers, according to officials of the top police agency Monday. | |
| Earlier, the Spices Board had suspended Cardamom Marketing's licence to hold auctions last week after the scandal came to light. |
| |
| Based at Vandanmedu, Kerala, the corporation has been conducting cardamom auctions for the last 40 years. However, it hasn't held an auction for more than two months, dealers said. |
| |
| It is alleged to have taken loans, estimated by dealers at Rs 50-70 crore, from banks on behalf of farmers, who were not aware of these transactions. |
| |
| Further, it is alleged to have falsified auction receipts to take loans from banks and financial institutions on behalf of growers and defaulted on repayment. |
| |
| Banks and financial institutions involved in these transactions declined to confirm the sum. |
| |
|
| |
