Daijiworld Media Network - Kundapur (MS)

Kundapur, Oct 18: A case has been filed by the manager of Karnataka Bank, Siddapur branch against a couple for allegedly cheating the bank with false records and audit report.

The accused in the case are Raghavendra Hemmanna, son of Damodar Hemmanna of Gajanana Cashew industries, Siddapur, Kundapur and his wife Ashakiran Hemmanna.

In his complaint, Srinivas Shenoy, branch manager of Karnataka Bank, stated that the couple had opened Hems Foods private limited in Shankaranarayana, Kundapur on June 13, 2015 and had taken loan from the bank.

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The accused had shown the annual turnover of the company as over Rs 10.90 crore in its audit report that was submitted to the bank. Considering the audit report, the bank gave overdraft facility of Rs 3.75 crore, Rs 2.7 crore towards purchase of machinery and Rs 25 lac for the construction of new building on various dates, the complaint stated.

Later, the accused, it is alleged, did not pay the loan instalments properly to the bank. When the bank officials checked the website of the company they found that the annual turnover of the company was mentioned as just over Rs 15 lac. The bank has accused the couple of preparing two different audit reports in the name of the same company with the intention of cheating the bank.

The bank manager has complained that the company owned by the accused couple owes Rs 6,74,77,414 to the bank as of July 1, 2020. It is alleged that the accused have shown the stock of the company as Rs 5.27 crore. But when the bank officials checked the godown, none of the products manufactured by the company were kept in stock.

A case under sl no 91/2020 and column 420,465,468 and 34 of IPC has been registered in Shankaranarayana police station as per the complaint filed by the branch manager of Karnataka Bank, Siddapur branch.