Thrissur: The state-ruling CPM has confirmed the action taken by the Enforcement Directorate (ED) in the Karuvannur Bank fraud case. In a press release issued by its Thrissur district secretariat, the CPM has said that the ED seized 4.66 cents of land, in addition to freezing two fixed deposits and some other accounts.

The CPM release says the party purchased the land for its Porathissery local committee office. The CPM has also alleged that the BJP-led Centre uses the ED against them for political reasons. The CPM said it would challenge the ED action politically and legally. The party has called the ED move a retaliatory action for its stance against the BJP in the electoral bond issue.

The press release also accused the central agency of ignoring the CPM's requests for investigations into the BJP's alleged involvement in the Kodakara hawala case and the Kodungallur counterfeit currency case.

In the Karuvannur Service Cooperative Bank fraud case, which involves around Rs 300 crore, the ED has seized assets worth Rs 29 crore, including Rs 73 lakh assets owned by the CPM. The ED included the CPM in the list of accused on the allegation that the party and the accused had used the embezzled money to acquire properties.