It is alleged that fees and donations from students have not been accounted in the trust income

SNDPs Vellappally Natesan faces allegations of 600-crore-rupee scam
news Monday, October 26, 2015 - 09:06

Even as Sree Narayana Dharma Paripalana (SNDP) yogam’s General Secretary Vellappally Natesan embarks on a political project to bring together Hindus of the state under a common political umbrella, allegations of misappropriation of Sree Narayana trust fund have surfaced against him.

The Sree Narayana Dharma Vedi, a rival organization, has alleged that Natesan has illegally acquired Rs 600 crore through the appointments in the organisations under the SN Trust.

“When you cross check all the accounts of SN trust, we find lots of irregularities. The number of actual appointments and accounted money hugely vary,” Sree Narayana Dharma Vedi state Vice President Pushpangathan told Asianet News.

He also alleged that the fees and donations from the students have not been accounted for, in the trust income and that Natesan has taken away a large chunk of it.

Pushpangathan also alleged that there is a huge variation between the SN trust’s budget and income, and up to Rs 600 crore is missing from the budget.

Meanwhile state Opposition Leader VS Achuthanandan has alleged that Natesan has taken loans from banks at 5% interest and lent that money through his micro finance units at an interest rate of 18%. Achuthanandan also alleged that Natesan has not paid the money back.

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