25-04-2025
CID files chargesheet against Ramesh Jarkiholi
The Criminal Investigation Department (CID) has filed a chargesheet against BJP MLA and former Minister Ramesh Jarkiholi and two of his associates for allegedly defrauding Karnataka State Cooperative Apex Bank Ltd. and four district central cooperative (DCC) banks to the tune of ₹439.12 crore. The chargesheet was filed on Tuesday, April 22, sources said.
The 4,888-page chargesheet was filed after the High Court of Karnataka permitted the CID to do so, sources said. Mr. Jarkiholi had approached the High Court to quash the FIR against him, and while hearing that petition, the court permitted the CID to file their chargesheet, sources said.
The case pertains to loans worth ₹232.88 crore granted by Karnataka State Cooperative Apex Bank and the DCC banks of Vijayapura, Tumakuru, Dakshina Kannada, and Uttara Kannada to Gokak-based Sowbhagya Lakshmi Sugars between 2013 and 2017. During this period, Mr. Jarkiholi was the chairman and managing director of the company, and the board had two of his close associates, Vasanth V. Patil and Shankar C. Pavade, as directors.
While the banks had put forth a condition that no changes can be made without their knowledge until the loans are cleared, Mr. Jarkiholi, Mr. Patil, and Mr. Pavade exited the company without notifying the banks, and neither was the loan repaid, sources said. Including penalty, interest and the principal, the loan outstanding has now grown to ₹439.12 crore, sources said. The CID Economic Offences Wing that probed the case has now chargesheeted the former Minister and two of his associates for cheating, among other crimes, sources said.
Meanwhile, sources said that the day the CID filed its chargesheet, the company repaid part of its outstanding loan to the banks.
