Vigilance probe ordered in micro finance case against SNDP

A Vigilance Special Court here today ordered a preliminary inquiry into allegations of irregularities in the micro finance scheme run by Sree Narayana Dharma Paripalana (SNDP) Yogam led by general secretary Vellappally Natesan following a plea by CPI(M) leader V S Achuthanandan.
Enquiry Commissioner and Special Judge (Vigilance) John K Illikandan ordered the probe against Natesan and four others and directed the Vigilance to file a report by March 5.
The order for preliminary inquiry came on a peitition by Achuthanandan, Leader of the Opposition in Kerala Assembly, seeking a Vigilance probe into the matter.
Achuthanandan had sought probe against Natesan, SNDP Yogam President M N Soman, Micro Finance Co-ordinator K K Maheshan and former Backward Commission Corporation MD N Najeeb for alleged corruption to a tune of Rs 15 crore in the disbursement of finance under the scheme.

In the petition, he alleged that huge amounts of money were taken as loans by the operators of the Yogam's microfinance scheme from the government's Backward Classes Development Corporation and nationalised banks at five and four per cent interest respectively and distributed at higher interest rates to the beneficiaries.
Meanwhile, Natesan said SNDP would face the probe and rejected the allegations levelled by Achuthanandan.