Daijiworld Media Network - Udupi (SP)

Udupi, Oct 14: Former director and president of Udupi Primary Cooperative Agricultural and Rural Development Bank, Kishan Hegde had, reportedly availed loans in Benami (impersonation) names without providing proper documents, and cheated the bank, said current president of the bank Sadashiva Karkera in a complaint filed in the town police station here.

He said that despite Kishan Hgde not being a farmer, he had availed loans without providing proper documents. He said that by availing loans in Benami names, he had utilised subsidy amounts for his personal use. He has accused the manager of the bank Usha K of helping Hegde to avail the loan with the purpose of cheating and committing fraud against the bank by cooperating with the accused in helping him to get loans without obtaining permission of the board of directors. He said that the bank manager failed to comply with the bank rules for granting such loans.

The complaint says that without following proper procedures, the two had cheated the bank from September 27, 2001, to January 20, 2018, to the extent of Rs 20,67,531.