Ramesh Jarkiholi repays Rs 120 crore beforeCID files chargesheet in bank fraud case
Bengaluru: CID, probing a cheating case against BJP MLA and former minister
Ramesh Jarkiholi
and others, filed a chargesheet to a special court stating they duped the
Karnataka Cooperative Apex Bank
to the tune of Rs 439 crore.
The complaint was filed at VV Puram police station in Jan 2024 by the general manager of the bank. It stated that Soubhagya Laxmi Sugars Ltd (Gokak) chairman and managing director Jarkiholi, along with other directors Vasant V Patil and Shankar A Pawade, borrowed Rs 232 crore from July 2013 to March 2017 from the bank and other lenders of its group for the establishment and expansion of the firm.
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However, they later violated the bank's conditions that the firm should not alter its board of directors until the loan was repaid. "Instead, the accused persons appointed others, and this was done with an intention to cheat," the complaint read.
Later, the case was transferred to a CID team, headed by SP (financial intelligence) Raghavendra Hegde.
Meanwhile, Jarkiholi and others approached the high court, seeking quashing of the FIR, but in vain. After the HC gave the green signal, CID submitted the chargesheet on April 15.
According to the chargesheet, which runs into around 5,000 pages and contains statements of 70 witnesses, Jarkiholi, Patil, and Pawade duped the bank to the tune of Rs 439 crore.
Meanwhile, shortly before the chargesheet was filed, Jarkiholi repaid Rs 120 crore to the bank, CID sources said. However, the chargesheet does not mention the repayment.
"The bank officials communicated with us stating that Jarkiholi paid Rs 120 crore. Next, we will submit a supplementary chargesheet as we are yet to conclude our investigation," a senior CID officer told STOI.
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