CBI books kin of Lakshadweep politicians in 25-year-old loan default case

The CBI has booked two politically-influential persons of Lakshadweep for allegedly cheating Lakshadweep Khadi and Village Industries Board (LKVIB) by not repaying loans taken by them in 1997, officials said Tuesday.

Kamarbhanu Thottoli Kiltan, daughter of local politician AP Aboosala, and TK Ahmed Haji Thotlathakara, son of deceased politician Basha, had taken loans of 16.93 lakh and 15.69 lakh respectively under Consortium Bank Credit Scheme with intent to defraud LKVIB at the time of applying for a loan, the CBI has alleged.

Both were supposed to make quarterly payments but being ''influential persons of the Union Territory of Lakshadweep, they willfully defaulted on the installment from the beginning and did not pay the amount'', the CBI FIRs have alleged.

The FIR is an outcome of a joint surprise check conducted by the CBI and vigilance officers of Lakshadweep at the LKVIB office at Kavaratti on June 25. ''The LKVIB had sanctioned and disbursed loans to the various firms and institutions for establishing small-scale industrial units under various schemes of KVIC. Kamarbhanu Thottoli Kiltan and TK Ahmed Haji Thotlathakara also availed this scheme in the year 1997,'' an official said. Kiltan was issued an advance of Rs.16.93 lakh, for starting a fish processing project by Ahal Development Society, Kiltan, in the form of a term loan for eight years on an interest rate of 18 percent, payable to LKVIB every quarter, the agency said.

The CBI has alleged that Kiltan cheated LKVIB to the tune of Rs. 53.46 lakh (principal plus interest) till the year 2022 by ''corrupt and illegal means and by abusing official position'', causing wrongful loss to the government exchequer. In the case of Thotlathakara, the loan amount was 15.69 lakh for purchasing a fishing vessel and other accessories on similar terms of repayment. He also stopped making repayments causing a loss of Rs 46.75 lakh to LKVIB, the agency has alleged. ''The non-remittance of loan by large beneficiaries like Kamarbhanu Thottoli Kiltan brought a situation where the board (LKVIB) was stopped getting the funds from Khadi and Village Industries Commission, Mumbai and the development work to be carried out by the Board became stand still as drawn further loan to fresh applicant could not be disbursed and also it curtailed the benefits of other islanders,'' it alleged. The CBI alleged that LKVIB did not take any sincere steps or legal remedies to recover the loan amount from them.