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Mangalore: Three accused of duping Indian Bank to the tune of Rs 2.25 crore

  •   Sat, Jan 26 2013 08:49:57 AM

Mangalore: Three accused of duping Indian Bank to the tune of Rs 2.25 crore

Daijiworld Media Network – Mangalore (VM)

Mangalore, Jan 26: Cases have been registered against three persons for duping Indian Bank, K S Rao road branch to the tune of Rs 2.25 crore.

The accused are G Narayan Sharma, P Gopalkrishna Bhat and Shyamala. They allegedly took a loan of Rs 2.25 crore from the Bank after showing fake properties.

As a security for loan, they claimed that they owned an apartment located in Belagola industrial area in Mysore and had iron ore stock worth Rs 1.75 crore in Bharath Exim company. Showing these securities, they obtained loan from the bank.

Later, when Reserve Bank officials investigated their property in Mysore, it came to light that the iron ore stock belonged GVK Wood Industries.

The accused created fake documents that they owned property in Mysore and then obtained loan, said bank manager Vasan P R in his complaint.

A case has been registered in the Bunder police station.
  

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Comment on this article

  • Stany D'sa, Mangalore/Dubai

    Sun, Jan 27 2013

    This is purely a hand in gloves story of three accused and the Bank manager. The Bank does not give loan without legal opinion and personal verification of the properties. The Bank officials have played a major role while granting such huge loan.Arrest all the involved and dig the truth.

    DisAgree Agree [2] Reply Report Abuse

  • bad political, Yeyyadi MANGALORE

    Sun, Jan 27 2013

    bhadavara hottege kallu haki e namma ketta sarakaragalu hana madi yelliyo idtare. but navu illi yella vasttige jasti hana kodbeku NANU YAKAGI HUTTIDE INDIA DALLI

    DisAgree [1] Agree [1] Reply Report Abuse

  • Sachidanand Shetty, Mundkur/Dubai

    Sun, Jan 27 2013

    At least we should be happy that these three masters did not dupe common public but the Bank only. Some time people should also teach lesson to Banks since they duped many public with their stringent money recovery policy. But it is unfortunate the few people started knowing these dupers with their religion only. I believe that no religion will teach us any lesson to dupe others. Rather all religion teaches us to lead good life without harming or duping others.

    DisAgree [1] Agree [4] Reply Report Abuse

  • shiva, kota dubai

    Sun, Jan 27 2013

    nagesh nayak... is it all coz of italian central govt policy?? the 3 persons duped are HINDUS... surprising is it not?? So chief minister should resign.

    DisAgree [6] Agree [7] Reply Report Abuse

  • Francis(Joe) Martis, Barkur/USA

    Sat, Jan 26 2013

    Crooks are always one step ahead of others. Unless you have a proof, cannot say Bank Manager is involved in this case. However, it is time, every bank and institution must follow certain methods, guidelines and set of rules for major loans like this prior to approval.

    DisAgree Agree [7] Reply Report Abuse

  • Beedi basava, Kudla

    Sat, Jan 26 2013

    Banknavaru ondhu pen (50 paiseyadhdhu) kuda nulinalli katti iduththaare.... hege ishtu hana loan koduththare sariyadha lekka pathra illade.....

    DisAgree [1] Agree [21] Reply Report Abuse

  • YATHISH KUMAR, ATTAVAR/DUBAI

    Sat, Jan 26 2013

    Property hypothicated loans are first verified by some experienced Lawyers appointed by the banks. What happened in this case either the Manager in charge or the Lawyer must be fraud or directly involved in this fake loan transaction and that too an amount of2.25 crores...... really unbelievable(funny and fischy)

    DisAgree Agree [16] Reply Report Abuse

  • G R PRABHU, BEJAI ,MANGALORE

    Sat, Jan 26 2013

    While at the time of documentation time these type dupers create such a type of atmosphere in the bank that at the time of loan release , they will arrange a big party to staff & some percentage to top Officials.The Result is this type of end.

    DisAgree Agree [16] Reply Report Abuse

  • SAHIL, DUBAI

    Sat, Jan 26 2013

    Most of them once they become manager they will try to miss use their position, they will act as a owner of the firm finally result like above. What is the use if below character missing.
    1)Simple 2)Honest

    DisAgree [1] Agree [14] Reply Report Abuse

  • KRPrabhu,

    Sat, Jan 26 2013

    Juiet mai,kassale comment marle thumi!Loan dillo manishu Vasan,atha te loan vasani aila!

    DisAgree [1] Agree [10] Reply Report Abuse

  • Juliet Mascarenhas, Bejai/Mangalore

    Sat, Jan 26 2013

    Bank Loan of RS. 2.25 crores is not easily available. The bank has to undergo several PRE/Post sanction /disbursal procedures such as verfication of documents,legal scrutiny/
    opinion,valuation,Inspection of securities,worth,repaying capacity,
    reports from the due diligence,IT department etc etc All this takes some time.Besides the branch head can sanction only if the loan falls within his desecration power or else the matter has to be referred to his higher authorities under whose DP it falls.
    In this case either there is negligence on the part of the Bankers to follow the procedures/ given guidelines or the borrowers have cheated in such a way to make the authorities believe that they are the true owners of the assets hypothecated/ mortgaged.
    Bankers please beware. Dont fall in the hands of such cheaters with the enthusiasm of reaching the targets, climbing the heights in your career.
    Customers curse the Manager who takes precautions while sanctioning loans and praise the one who overlooks the given guidelines .Finaly when he lands into problem people pass all types of comments as we read on hear. Every thing glitters is not gold.
    Namma kai namma thalemele.

    DisAgree [2] Agree [26] Reply Report Abuse

  • Declan, Mumbai

    Sat, Jan 26 2013

    Either the bank manager is directly involved in this fraud or his/her greed is the cause of this happening. I say greed because it is well known that several PSU Bank managers take a commission under the table to sanction such loan applications. So out of greed to get the commission, he/she was in a hurry to pass the loan without properly verifying the documents.

    DisAgree [1] Agree [17] Reply Report Abuse

  • h rasheed , mangalore, riyadh k s a

    Sat, Jan 26 2013

    those who providing a fake certificate banks provide loans very easily . those who are N R I AND N R E , They making ups & down .

    DisAgree [1] Agree [23] Reply Report Abuse

  • Amin Bhoja, Patte / Riyadh

    Sat, Jan 26 2013

    A Bank loan of 2.25 crores with forged documents ! it sure signals towards the bank officials and their disguise help in this forgery case.

    DisAgree [1] Agree [27] Reply Report Abuse

  • KRPrabhu, Kudla/Bangalore

    Sat, Jan 26 2013

    There is more than eyes meet in this case.In this case advances have been made not in ordinary course but on extrodinary course.In erstwhile DK dist generally fraudelent loans of this this magnitude do not occur without the collution of Branch Head.More over the BM is a outsider and greed may visible on first sight.It is clear that the bank has voilated the basic rules governing collateral security based advances.Apart from BM involvement of other officers in controlling/down the line at branch can not be ruled out.

    DisAgree [1] Agree [10] Reply Report Abuse

  • RONALD D SILVA, Mangalore

    Sat, Jan 26 2013

    This is a clear case of negligence on the part of bank officials. Branch officials might have given this loan on pressures from their higher officials.

    DisAgree [1] Agree [20] Reply Report Abuse

  • Prabhakaran, Kasaragod/Dubai

    Sat, Jan 26 2013

    It is utter nonsense and hard to believe a manager of an Indian nationalised bank granting over 2 crores to somebody showing fictitious documents of property allegedly in Mysore. The main culprits are obviously inside the bank. If an ordinary person apply for loans on the guarantee of their genuine properties, the managers are not always willing to grant loans unless they grease him well. So in this case also heavy greasing must have taken place.

    DisAgree Agree [33] Reply Report Abuse

  • raja, mangalore/sydney

    Sat, Jan 26 2013

    Agree @ ilyas, Qatar: Some people can get loans so easily that too in big amounts and for some people these bank managers make all dramas to lend any loan. No idea why? once upon a time around 6 yrs back one of our nationalized banks manager (@kudroli) asked me to take money from credit card, as i had gone for asking a loan of amount about 40-50k on my urgent needs at that time. I felt so insulted at that time and I Immediately closed my account in that bank for ever.My thought was when bank can’t help me then why should I have any transactions on that bank.

    DisAgree [1] Agree [28] Reply Report Abuse

  • Mahesh s kotian, MLR/SMg

    Sat, Jan 26 2013

    Banks ask gaurantor for petty education loans.How can they sanction huge amount first and verify later..

    DisAgree [1] Agree [36] Reply Report Abuse

  • imar, ABUDHABI

    Sat, Jan 26 2013

    Knock Knock.. Mr Nages Nayak...are you sleeping ther...please let us know wht to do this Peoples

    DisAgree [3] Agree [32] Reply Report Abuse

  • ilyas, qatar

    Sat, Jan 26 2013

    papa dagulu podu 10000 rs sala kenda gidpuweru.....kalleru ponda koti korperu ...malla gift kordipperu bank mangergu malthi karma tinpini

    DisAgree Agree [49] Reply Report Abuse

  • s n bangs, Thannirubhavi

    Sat, Jan 26 2013

    it is not possible with out the bank officials. Arrest them first.

    DisAgree [1] Agree [43] Reply Report Abuse

  • geoffrey, hat hill

    Sat, Jan 26 2013

    Was under the impression that banks deployed attorneys to scrutinize the documents before sanctioning such loans.

    DisAgree [1] Agree [25] Reply Report Abuse

  • Ganesh, mangalore

    Sat, Jan 26 2013

    why people are using good brain for bad work.

    DisAgree [3] Agree [58] Reply Report Abuse

  • AMAR NATHAL, MANGALORE

    Sat, Jan 26 2013

    3 people duping 2.25 crores is nothing. BJP crooks have duped the Karnataka State for tens of crores!

    DisAgree [14] Agree [105] Reply Report Abuse

  • ISMAIL.K.PERINJE, PERINJE-YANBU/KSA

    Sat, Jan 26 2013

    Mr VASABN P R...How much commission you got in this loan? How come such mammoth amount was thrown away with out verification of documents which are pledged? Where are 'JAAMINS'The above phony loan could not be possible with out active support of Bank officials. Pretty funny loan with fake documents.

    DisAgree [3] Agree [130] Reply Report Abuse


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