Kochi: The special cell of the Vigilance and Anti-Corruption Bureau (VACB) in Kochi has launched a probe against N. Venugopal, former chairman, Greater Cochin Development Authority (GCDA), and three others over alleged irregularities in the sale of its properties. A first information report (FIR) has been filed against Mr Venugopal, former GCDA secretary R Lalu, Akbar Badusha, executive committee member and Abdul Rasheed, a private individual. The decision to file an FIR follows a quick verification by the VACB on the sale of four properties by the GCDA.
The probe will cover the sale of three plots of 20 cents each at Panampilly Nagar, Thevara-Panampilly Nagar and near Ambedkar Stadium and another 45 cents at Gandhi Nagar. Mr Venugopal said that he came to know about the FIR from the media, and VACB was yet to contact him. “The committee approved the tenders, and we have nothing to conceal. We will cooperate with the probe,” he added.
The executive committee comprising the chairman, secretary and another member decided the price of the property and the allegation is that the fair price fixed by the committee was much below the potential market price. The committee fixed a fair price of Rs 30 lakh for 20 cent plot in Panampilly Nagar while per cent fetched a minimum of Rs 12-15 lakh.
The committee fixed a fair price of Rs 15 lakh per cent for the plot near Ambedkar Stadium but then sold the same for Rs 12 lakh per cent. According to VACB officials, the preliminary investigations have revealed a loss to the tune of '7.80 cr for GCDA. The probe will focus mainly on why the GCDA chose to sell the property at a lower price, they added.
