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The allegations state that Kappan took Rs 2 crores from Dinesh Menon, a Mumbai resident, in 2010 and failed to repay the amount.
The Pala MLA may be inducted into the Pinarayi Vijayan cabinet replacing AK Saseendran
The Independent MLA dismissed rumours that he will become a part of the Left Democratic Front by rejoining his parent party.
The Mamata Banerjee-led party, which is on an ambitious expansion plan in the run-up to the 2024 Lok Sabha polls, has approached a few leaders in Kerala.
KC (M) leader and MP Thomas Chazhikadan fired the first salvo after his party’s high-level committee meeting.
It is a victory of Kappen's personal charm, which the UDF machinery could tap. It seems Pala also voted heavily against Jose K Mani's perceived unfriendly nature and selfish political motives.
The election in Pala was keenly watched by Kerala as Jose K Mani contested on the LDF ticket.
While Jose is adamant on recapturing the constituency his party the Kerala Congress (Mani) had lost in a 2019 bypoll after the demise of his father K M Mani, Kappan is fighting to retain the seat he had wrested from then.
Kappan said that the party will request 3 seats, including Pala, from the UDF for the upcoming Assembly elections.
Kappan and nine others have resigned from NCP to form a new regional wing.