Malabar cements corruption: Kerala High Court asks businessman to surrender

Kochi: The Kerala High Court on Tuesday directed controversial businessman V.M. Radhakrishnan, an accused in a corruption case at Malabar Cements, to surrender before the investigating officer in a week. The case related to import of fly ash violating rules. The court issued the order while disposing of the anticipatory bail plea of Mr Radhakrishnan, the managing director of Ark Wood and Metal Pvt Ltd. The court has asked the police to produce him before the magistrate on the day of surrender itself.

Mr Radhakrishnan contended that a separate team of vigilance had earlier conducted a probe into the case. He argued that the case is an attempt to settle personal scores. Cops registered an FIR relating to import of fly ash for the state-run entity and irregularities in issuing bank guarantees. Besides Mr Radhakrishnan alias Chakku Radhakrishnan, VACB booked Malabar Cements MD K. Padmakumar, deputy marketing manager G. Venugopal, legal officer Prakash Joseph, former MD M. Sundaramoorthy, and Ark Wood former executive director S. Vadivelu.

Though the VACB conducted a quick verification and found serious financial irregularities to the tune of '2.70 crore and cognizable offences of criminal misconduct against the suspected persons no FIR was registered. The HC criticised VACB and warned the vigilance director, observing, "This is a case wherein the director had clearly flouted the mandatory directions given by the Supreme Court in Lalithakumari case. After getting the report from the director, the additional chief secretary had decided to exonerate all the other persons, except Prakash Joseph, by stating that it was the duty of the Comptroller and Auditor General to note down the irregularities, if any, in the matter."