Kochi: Police informed the Kerala High Court that a charity trust named Alangad St Joseph Sadhujana Sangham in Ernakulam was into money lending business and that it collected a huge amount of deposits at a high interest rate and cheated the government by not accounting for it and not remitting income-tax. Judo Peter of Alangad filed a complaint alleging that the sangham runs its entire business illegally without any licence.
The crime was registered on June 6, 2016 alleging offences under Section 120 (B) and various sections under Kerala Money Lenders Act 1958 and Central Chits Funds Act and Chits and Money Circulation Scheme. Sub Inspector of Aluva West police filed the statement. The sangham in 2006 started lending money to public by accepting securities and mortgages and also collected huge interest.
Apart from that, the sangham ventured into business of pawning, conducting chitties and accepting deposits from public under the pretext that it has got licence to do all of the above business, police said. Police submitted that the sangham has got no licence. They further stated that the secretary of the sangham refused to turn up before them even after a notice was issued.
The probe revealed that the deposited amount was unaccounted and is black money as no taxes were paid. The unaccounted money collected was deposited in Catholic Syrian Bank, Alangad. Police further submitted that besides the unaccounted deposits the society has attached many properties in its own name as the borrowers were unable to pay back the loan amount. The First class magistrate court frozen the accounts.
