Nedumangad: Mundela Mohanan (62), the president of Mundela Rajiv Gandhi Residence Welfare Cooperative Society, was found dead in an apparent suicide near his resort at Amburi Thekupara, Kattakada. His body was discovered hanging behind his property.
Mohanan, who had been operating the cooperative society based in Aryanad, was reportedly in hiding after allegations of financial irregularities surfaced. For the past three months, depositors have been staging protests in front of the bank, demanding action. A similar protest occurred yesterday as tensions escalated.
An investigation led by the Assistant Registrar of the Cooperative Department revealed misappropriations exceeding ₹34 crore. The findings were reported to the Joint Registrar, leading to the dissolution of the cooperative board.
The Administrative Committee assured protesters that those involved in the embezzlement would be arrested by November 11. However, no arrests have been made to date, fueling frustration among the depositors and intensifying demands for justice.
