Following a supplementary CBI report to the Kerala High Court, K.A. Ratheesh stepped down from three senior positions, including secretary of the Kerala Khadi Board and MD of RUTRONIX. The resignation was directed by the Chief Minister after the court labeled the situation a "sorry state of affairs."

Key Takeaways

  • K.A. Ratheesh resigned from three senior posts.
  • CBI added Prevention of Corruption Act charges.
  • Trial on the ₹600 cr cashew import fraud is imminent.

After the Central Bureau of Investigation (CBI) filed a supplementary report with the Kerala High Court, alleging violations of the Prevention of Corruption Act, 1988, former KSCDC managing director K.A. Ratheesh tendered his resignation from three influential positions.

Ratheesh stepped down as secretary of the Kerala Khadi and Village Industries Board, managing director of RUTRONIX (Kerala State Rural Women’s Electronics Industrial Cooperative Federation Ltd.), and chief executive officer of the Kerala Khadi Workers’ Welfare Fund Board.

Read Also:Two Motorcyclists Killed in Tragic Road Accident in Raichur

The resignation was reportedly ordered by the Chief Minister following the court’s comment that the continuation of charge‑sheeted officials in key posts was “a sorry state of affairs.” The High Court warned that corruption “is a menace in society.”

Charges have also been lodged against INTUC Kerala State president R. Chandrasekharan, who chaired the KSCDC during the period in question. The alleged irregularities in raw‑cashew imports from 2006‑2015 totalled roughly ₹600 crore.

Historical Background

The Kerala State Cashew Development Corporation, established in 1969, is the largest public‑sector cashew processor in the state, accounting for a significant share of India’s export‑grade cashew supply. Previous audits have flagged procurement lapses, but the current case is the most extensive financial loss recorded.

Why This Matters

BozokMedia analysis shows that the scandal could erode investor confidence in Kerala’s cooperative sector and prompt stricter oversight of public‑private partnerships.

The resignation underscores the growing intolerance for high‑level corruption in Indian public enterprises.
Did You Know?: KSCDC processes over 30 % of India’s raw cashew imports, making it a critical node in the global cashew trade.

Frequently Asked Questions

Q1: What positions did K.A. Ratheesh hold before resigning?
He was secretary of the Kerala Khadi and Village Industries Board, managing director of RUTRONIX, and CEO of the Kerala Khadi Workers’ Welfare Fund Board.

Q2: When is the trial expected to begin?
The court has scheduled the trial to start in the coming weeks, though an exact date has not been announced.