Daijiworld Media Network - Udupi
Udupi, Oct 30: The bank loan fraud allegations against a private co-operative bank have intensified, with accusations circulating on social media. Allegations emerged that the bank’s management misused funds based on falsified documents, and both sides have since issued statements in a public exchange.
The dispute stems from the 2023 case involving the Mahalakshmi Co-operative Bank, where branch manager Subbanna allegedly ended his life due to workplace pressures, as mentioned in his death note. The note implicated prominent individuals, including BJP leader Yashpal Suvarna, under IPC section 306 and other charges for abetment of suicide. Subbanna’s death highlighted alleged coercion by bank officials to recover loans, which led to serious legal repercussions for the accused.
Amid this background, former MLA K Ragupathi Bhat shared his letter, responding to a recent challenge by Mahalakshmi Co-operative Bank’s managing director, who urged Bhat to address his claims before Udupi Shree Krishna Temple. Bhat, in his letter, expressed his willingness to meet at any location and any time specified, stating, "I am ready to come if it helps bring justice to the victims." He also promised to call the victims for a fair resolution.
Bhat further escalated the issue by sharing a letter from an investigative officer, which had issued a notice to the bank regarding the allegations, signaling his intent to pursue justice for those affected. The latest developments have drawn attention to the bank’s accountability and the well-being of its clients, highlighting the wider implications for community trust in local financial institutions.