Hit by financial fraud allegations, Kerala CPM secy's son faces travel ban in UAE

Hit by financial fraud allegations, Kerala CPM secy's son faces travel ban in UAE

Hit by financial fraud allegations, Kerala CPM secy's son faces travel ban in UAE

CPM Kerala secretary Kodiyeri Balakrishnan's elder son who is facing allegations of financial fraud in the UAE is now facing a travel ban in connection with the case.

The ban, issued on February 1, has restricted Binoy Balakrishnan, who is in Dubai now, from travelling out and directed him to deposit his passport in a court's safe.

The case pertains to the repayment of AED  1 million (about Rs 1.74 crore). Hasan Ismaeel Abdulla Almarzooqi, who owns the Dubai-based JAAS Tourism LLC has already  claimed that Binoy cheated his company of AED  7 million (about Rs 13 crore, including bank interest and legal charges).

Balakrishnan's younger son, Bineesh, confirmed to the media about the travel ban but reiterated that the fraud of Rs 13 crore is a story being floated by vested interests.

"The dispute is only about AED  1 million but there has been a coordinated effort to validate the Rs 13-crore figure. We are adults; it's pointless to drag our father or his party into the issue," he said.

Almarzooqi said Binoy, through his friendship with Rakhul Krishnan, a partner in JAAS Tourism, borrowed money from banks that held the company's accounts on a mortgage loan of AED 313,200 (about Rs 54 lakh) for buying an Audi car and later, AED 4.5 million (about Rs 7.8 crore) for business deals in the UAE, India, Saudi Arabia and Nepal.

The petitioner claimed that Binoy left the UAE without repaying the loans.

Binoy refuted the allegations and said the case was already settled in a Dubai court, in November last year.

Balakrishnan had countered the allegations by stating that there was no case against Binoy and the CPM did not have anything to do with his business-related decisions.

Press meet called off:

Almarzooqi, who was scheduled to hold a press conference here on Monday, backed out following a court order.

A court in Karunagapally in Kollam has restrained the media from reporting on allegations raised by Almarzooqi against another person – Sreejith Vijayan, son of ruling Left Democratic Front MLA Vijayan Pillai.

"I don't know what made the court take this stand but this fraud cannot be hushed up for long," Leader of the Opposition Ramesh Chennithala said.

 

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