Daijiworld Media Network - Udupi (SP)

Udupi, Mar 18: Reacting to clarification furnished by Syndicate Bank claiming that the complaint of granting huge loans on the security of property that is disproportionately low, considering the quantum of the loan and market value of the property given as security, social activist, Abraham, has written under Right to Information Act to deputy general manager of the bank, S S Hegde,asking him to provide documentary proof to prove him wrong.

Abraham had filed complaint with the finance ministry, New Delhi, claiming that minister, Pramod Madhwarj, had raised huge loan against the security of a small property. Pramod Madhwaraj as well as deputy general manager of the bank had denied the charge. In this backdrop, Abraham came here on Saturday and met the bank's deputy general manager.

Speaking to media persons, Abraham said that the bank official has issued clarification saying that what he said was wrong. "The bank officials, by saying that I had furnished wrong information, have defamed me. Unless they furnish documentary evidence to prove that I am wrong, I will file defamation suit for five crore rupees," he stated.

He rieterated his allegation that the bank had granted loan to Madhwaraj against property which has meagre value in comparison to amount borrowed. He added that the bank had granted loans much in excess of the value of 18 guntas of property offered as security, pointing out that the rate mentioned in the valuation is more than the property rates in M G Road Bengaluru.