Natesan is also supreme leader of the newly-floated Bharath Dharma Jana Sena (BDJS) party, which fought the recent assembly elections in alliance with the Bharatiya Janata Party.
The FIR was filed in the Thiruvananthapuram Vigilance Court, which posted hearing on the case on July 27.
Five people have been arraigned as accused in the FIR and Natesan is the first accused.
Incidentally early this year it was former chief minister V.S.Achuthanandan who approached the Thiruvananthapuram Vigilance Court in person and submitted a petition accusing Natesan of committing large scale diversion of funds means to be given at low rates of interest to beneficiaries under the microfinance scheme. The court directed the vigilance probe team to conduct a preliminary probe.
SNDP Yogam is the social movement of the Hindu Ezhavas that propagates the values of social reformer Sree Narayana Guru. Of Kerala's 3.34 crore population, Hindus constitute 1.82 crore, of which the Ezhava community constitutes a majority.
Reacting to the new developments, State Congress president V.M.Sudheeran said that the game is up and with an FIR now being registered against Natesan, he should now step down as the general secretary of the SNDP Yogam.
State BJP president Kummanem Rajasekheran in a statement issued here however said that this is nothing but a politically-motivated move by the Left government.
"Ever since Natesan exposed the traditional rival political fronts in the state and joined with the NDA alliance he has become a target of both the political fronts. This microfinance operation has been going on for several years and since Natesan took a political stand, he has been arraigned," he claimed.
Natesan, however told reporters that just because an FIR is registered, no one becomes an accused and he does not fear anything as he has not done any wrong.
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