Daijiworld Media Network – Mangaluru (MS)

Mangaluru, Aug 6: A man filed complaint over three people of cheating his faith in them in posing as a guarantor for their bank loan by pledging his property worth Rs 2.5 crore.

Madhwaraya Bhat is the person who is taken for ride by Raksha Baliga, Nidhi Vasudeva Kamath and Vasudeva Kamath.

The trio had obtained a loan of Rs 1.75 crore from Bharath Cooperative Bank Mangaluru branch with the intention of establishing a dairy farm in Maharashtra. Vasudeva is a retired bank manager and well known to victim Madhwaraya. Vasudeva had requested Madhwaraya to be the guarantor for the loan. Accordingly, Madhwaraya posed as the guarantor with certain conditions and pledged his property worth Rs 2.5 crore.

The accused trio said that they will make some alternative arrangement for guarantor within six months and get the property pledged by Madhwaraya on their loan. However, the accused did not repay the loan amount to the bank. The bank sent notice to Madhwaraya. When Bhat took up the matter with the trio, they threatened him with life and absconded.

Madhwaraya has filed a complaint against the trio of cheating him on his good faith. In addition, bank has asked Madhwaraya to repay the loan amount as the three people who took the loan are absconding.