Daijiworld Media Network - Bantwal (SP)

Bantwal, Jul 7: A case stands registered at the town police station here against a couple. The couple has been accused of raising a loan for acquiring a house and then trying to defraud the bank by alienating the property mortgaged to the bank in the name of the wife.

Raveesh Shetty (52), residing at Kadakar in Kagekana in Soorikumeru in the taluk, and his wife, Pushpa Shetty (44), have been accused of having attempted to defraud the bank.

Raveesh Shetty is said to have raised a loan of Rs 15 lac from Sri Bhagawatih Coperative Bank's B C Road branch on June 29, 2012 to acquire 46 cents of land and a house standing thereon at Barimaru village in the taluk. Pushpa Shetty was the guarantor for the loan. The loan has become overdue and the current liability is around Rs 26 lac.

The bank, unable to recover the loan, took steps to auction the landed property mortgaged to it through open auction and issued publication for the same. The bank then came to know about the fraud attempt, manager of the bank said in a complaint filed at the police station. The bank has alleged that Raveesh Shetty, instead of repaying the loan, had registered the property in the name of his wife, Pushpa Shetty, through the office of the sub-registrar at Vittal by means of a gift deed in an apparent attempt to cheat the bank.