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.Kozhikode,Oct 29, 2026 10:16 ISTThe 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.- Ends