After the Central Bureau of Investigation (CBI) submitted a report to the Kerala High Court stating that offences under the Prevention of Corruption Act, 1988 (PCA) had also been added to the charges against K.A. Ratheesh, former managing director of the Kerala State Cashew Development Corporation (KSCDC), in connection with the alleged misappropriation of funds in the import of raw cashew, he resigned from the three key posts he had been holding.
Mr. Ratheesh resigned as the secretary, Kerala Khadi and Village Industries Board; managing director, RUTRONIX (Kerala State Rural Women’s Electronics Industrial Cooperative Federation Ltd.); and chief executive officer of the Kerala Khadi Workers’ Welfare Fund Board.
The Chief Minister is learnt to have directed him to submit resignation following adverse remarks by the High Court over the continuation in key posts of persons charge-sheeted by the CBI. The court had orally remarked that it was “a sorry state of affairs.” The court recorded that the matter needed serious consideration since “corruption is a menace in society.”
Corruption charges have also been added against Indian National Trade Union Congress (INTUC) Kerala State president R. Chandrasekharan, who was then chairperson of the KSCDC.
The alleged irregularities in the import of raw cashew between 2006 and 2015 by the KSCDC amounted to ₹600 crore. The trial in the case is set to begin soon.
Published - August 03, 2026 01:10 pm IST
Source: The Hindu - India News
