In a major embarrassment for the CPI (M) in Kerala, Binoy Kodiyeri, the elder son of the party’s State Secretary, Kodiyeri Balakrishnan, has been accused of cheating a Dubai firm of Rs 13 crore.
Documents published by sections of the Malayalam media show a letter written by a Dubai-based firm, JAAS Tourism LLC, asking the Indian government’s assistance to register a formal complaint against Binoy Vinodini Balakrishnan, who allegedly absconded from the UAE after cheating the company of an amount of Rs 13 crore.
The complaint written by Dubai citizen Hasan Ismaeel Abdulla Almarzooqi says that Binoy still owes his company and partner 7 million Dirhams (Rs 13 crore), including bank interest and legal charges. He added that Binoy knew his partner, Rakhul Krishnan, and, therefore, approached them for the loan.
The company claimed that Binoy borrowed 3,13,200 UAE Dirhams (approximately Rs 53.61 lakh) on collateral security for purchasing an Audi car, and they also lent him 45 lakh Dirham for his business deals in India, UAE, Saudi Arabia and Nepal.
Binoy assured them that the money would be repaid by June 2016, but he never did.
“But soon, he discontinued the repayment of vehicle EMI for above-mentioned mortgage loan of AED 313,200, therefore bank issued legal notice to our company. And before the committed date of repayment of other loan amount of AED 4,500,000, Mr Balakrishnan escaped from UAE to India,” the report says.
Hasan Almarzooqi also alleged that he came to know from Rakhul Krishnan that Binoy had borrowed from other companies and individuals in UAE, and would not be returning for he had no intention of repaying them.
Though he deposited three cheques given by Binoy, they bounced and he was forced to file two criminal cases at the Dubai Police General Headquarters in 2016. The company claimed the court had directed them to approach Interpol in a bid to bring him back as the Dubai public prosecution had declared Binoy a wilful defaulter in UAE.
He further says that they have approached the Dubai criminal court to issue an Interpol red warrant.
He concludes saying that Rakhul and his father met Kodiyeri Balakrishnan, and though he assured them that he would help, no action was taken.
What is more damaging is that, according to reports, the company wrote to the CPI (M) Politburo seeking their help, but it is unclear if they could do anything to assist them.
Binoy rejects allegations
Binoy has denied the accusations and said that he has repaid the loan amount in full. “I did do business with a partner in 2014, but I have repaid the entire amount,” he said.
Kodiyeri Balakrishnan too refuted the claims and met Chief Minister Pinarayi Vijayan. “He has made it clear that there is no case against him. Therefore, there is no need to involve the Interpol,” he said.
Opposition leader Ramesh Chennithala said that the son of a leader being booked in a cheating case was a very serious incident. He urged either the Chief Minister or the CPI (M) leadership to take strict action. BJP State President Kummanam Rajasekharan demanded a probe by the Enforcement Directorate in the issue.