Pramesh S Jain & Dr.Thomas (Special Correspondent)
Former minister and Gokak MLA Ramesh jarkiholi and two others have been booked for cheating bank by refusing to repay 439.7 crore worth business loan taken from Karnataka state cooperative Apex bank in March 2017.
Based on the complaint filed by bank manager Rajanna,the VV Puram police have registered a case against Ramesh Jarkiholi and two former directors of the sugar factory charging them under cheating and criminal breach of trust on Friday.
In his complaint Mr.Rajanna said that Ramesh jarkiholi who was chairman and MD of Soubhagya Lakshmi sugars limited,in Gokak and two of its directors identified as Vasanth V Patil and Shankar A Powade has applied to the bank to expand and manage Soubhagyalakshmi Sugars limits and were granted loan of Rs.232.88 crore in March 2017.
The accused have defaulted for non payment and the amount with dues reached 439.7 crore in August 2023.
According to the complainant,as per the loan terms the company cannot change the roles of the Managing directors or Directors from the sanction of the loan till repayment.
The accused had changed the management of the company and replaced with the people who are not related to the bank loans,This is to cheat the bank and amounts of criminal breach of trust,the complainant, said .
The FIR filed against Ramesh is also linked to the long term tu
ssel between him and the leaders of the ruling congress party especially with the deputy Chief Minister D K Shivakumar .
