Madras High Court orders notice on petition against D Pandian
Pandian without the knowledge of the state council pledged the property documents and borrowed a loan of Rs 13 crore
By : DC Correspondent
Update: 2015-08-12 05:55 GMT
Chennai: A petition has been filed in the Madras high court to order a CBI probe into the loan of Rs 13 crore granted to D. Pandian, the then secretary of the Tamil Nadu state council of the CPI allegedly for construction of multi-storied party office here.
Justice M. M. Sundresh before whom the petition filed by P Jagaratchagan, a CPI member, came up for hearing, ordered issue of notice, returnable by four weeks, to Indian Overseas Bank, CBI and Pandian.
According to petitioner, the TN state council of the CPI purchased a property measuring 10 grounds in T.Nagar for having its central office. A few years back, Pandian, the then CPI secretary, suggested construction of a multistoried building to accommodate all party organisations. Huge funds were collected for the same.
Unfortunately, Pandian without the knowledge of the state council pledged the property documents and borrowed a loan of Rs 13 crore at the rate of 13.5 percent interest for putting up the building. This borrowing came to be known only through newspapers about the case filed by the IOB in the Debts Recovery Tribunal against CPI Party. Immediately, the issue was raised in the party and Pandian replied that he did everything in the interest of the party.