KOCHI: The Crime Branch (CB) Ernakulam unit has started an investigation into the complaint of North Paravur-based Gurudeva Trust collecting deposits running into crores of rupees from public in violation of a Reserve Bank of India (RBI) Act and giving interest as high as 12 percent. Crime Brahch IG Balram Kumar Upadhyay told DC on Monday that he has received a petition in this regard and entrusted the CB Ernakulam unit with the task of conducting an investigation into it.
The petitioner Abhilash C.S., a native of Manakkappady, approached the Crime Branch economic offences wing after the Reserve Bank of India (RBI) investigation into the case failed to produce any result. A two-member RBI team from its Thiruvananthapuram office had conducted a surprise inspection at the office of the Gurudeva Trust on March 10, but no action has since been taken. When an RTI petition was filed by the applicant to know the result of the raid and the RBI investigation, a reply from the RBI Thiruvanantha-puram office recently said that it is still under verification.
“At a time when the Central Government and RBI take strong action against black money by withdrawing Rs 500 and Rs 1000 notes, the slack attitude of the RBI Thiruvananthapuram office even after conducting a raid on Gurudeva Trust office, on a case of accepting deposits of over Rs 20 crore till March, 2016 illegally, is really baffling,” said Abhilash. He added that because of the RBI Thiruvanant-hapuram office’s slack attitude that he was forced to approach the Kerala Police Crime Branch. Section 45 S of RBI Act 1934 stipulates that “no person, being an individual or a firm or an unincorporated association of individuals shall, accept any deposit.” Trusts come under the definition of unincorporated association of individuals.
