BLM Society chairman R PREM KUMAR held in Chennai over alleged Rs..5000 Crore fund diversion

BLM Society chairman held in Chennai over alleged fund diversion

By:India Today News Desk Kozhikode,Oct 29, 2026

The Crime Branch took BLM Credit Society chairman R Premkumar into custody in Chennai. The probe centres on allegations that depositors' funds financed private property purchases.

The Crime Branch on Thursday took BLM Credit Society chairman R Premkumar into custody from his Chennai residence in connection with an alleged fund diversion case, news agency Press Trust of India reported.

Premkumar complained of physical discomfort and was taken to a government hospital in Nungambakkam. He is likely to be shifted to Kozhikode after doctors assess his condition, sources told PTI.

Bharath Lajhna Multi State Housing Co-operative Society Limited, or BLM Society, is a multi-state cooperative society headquartered in Chennai, with operations in Kerala and Puducherry.

The case concerns allegations that funds deposited with the society were diverted for private purposes, including the purchase of resorts, theatres and hotels in Kerala and Chennai, according to PTI.

The case was registered at the Nadakkavu police station following a complaint by a Kozhikode resident who alleged financial irregularities in the society. It was later transferred to the Crime Branch's Economic Offences Wing in Kozhikode, officials told PTI.

Although the complainant later withdrew the complaint, the Crime Branch decided to continue the investigation based on its initial findings. The investigation found that a large amount of money had been diverted from the institution, sources said.

Premkumar has approached the Kerala High Court to challenge the case. The matter is scheduled to be heard on November 29.

Following allegations against the institution, Premkumar had earlier said the society was regularly repaying the principal and interest to depositors and that they had not faced any inconvenience. He also alleged that certain individuals were making a concerted effort to undermine the institution.

Last month, Premkumar lodged a complaint with Chief Minister VD Satheesan and Home Minister Ramesh Chennithala, alleging that a false campaign against BLM Society was affecting its operations.

The Crime Branch is continuing its investigation into the alleged diversion of depositors' funds, while Premkumar remains in hospital pending a medical assessment before his likely transfer to Kozhikode.

RAVINDRANATHAN PREM KUMAR

RAVINDRANATHAN PREM KUMAR is a director registered with Ministry of Corporate Affairs. Their Director Identification Number (DIN) is 03391068. . RAVINDRANATHAN PREM KUMAR is/has been associated with 10 companies.

Companies Associated With

Company	Designation	Date of Appointment
NORTH MALABAR COMMERCIAL COLLECTIVE LLP	Partner	17-Nov-2023
ARJHAVA REAL ESTATE LLP	Designated Partner	24-Jun-2024
YBM TRANSPORT PRIVATE LIMITED	Director	05-Feb-2024
FOSCHIA RESORTS PRIVATE LIMITED	Director	24-Feb-2023
RAGHA GARUDATHRI CHITS PRIVATE LIMITED	Director	28-Feb-2011
YBM CONSTRUCTION PRIVATE LIMITED	Director	02-Feb-2024
YBM TRAVELS PRIVATE LIMITED	Additional Director	14-Dec-2022

Current Directors & Key Managerial Personnel of YBM TRAVELS

DIN	Director Name	Designation	Appointment Date
03391068	. RAVINDRANATHAN PREM KUMAR	Additional Director	2022-12-14
08066133	JENULABDEEN TAJUDEEN	Director	2018-02-07
08066134	BALAJI .	Director	2018-02-07
09375632	SIDDHESHWAR PRADEEPKUMAR NAIR	Additional Director	2022-12-14
09835635	. KARUNAMOORTHY	Additional Director	2022-12-26

Past Companies Associated With

Company	Designation	Date of Appointment	Date of Cessation
MAHA SHANK ENERGY LLP	Partner	25-Jun-2018	04-Feb-2019
MAALI & MANVI EXIM PRIVATE LIMITED	Director	18-Oct-2018	22-Jan-2019
OM SPARK INFOTECH PRIVATE LIMITED	Additional Director	05-Aug-2014	24-Apr-2015