Mangaluru: Guarantor of Rs 2.5 crore property conned by trio, complaint filed


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.

 

 

 

  

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Comment on this article

  • Sameer, Riyadh

    Sat, Aug 06 2022

    Subah ho gayi maamu...oh maamu.

    DisAgree Agree [2] Reply Report Abuse

  • Chandu, Karla

    Sat, Aug 06 2022

    Something is totally confusing with lots of missing links. Usually Coastal Konkna Maamus will not sparre a single copper sikkha without a reward. How come this Bhat Maamu offered property valued Rs2.5 crores as collateral with no financial interests in the dairy project. Secondly it's strange that Vasudeva Maamu being a banker why didn't he offer dairy land and equipment, machinary as a collateral to bank for the loan. He might have secured another similar loan from some other bank in Maharashtra. How loan was secured from Mangalore based branch for a project in Maharashtra when same bank is headquartered in Mumbai. It all sounds like some Tove, chano, tendlee, moong, suran gajibijie ghassee. Looks like it's a well planned Shendee lagao operation by Maamu and Maies. Atha heh Venkatarama thoonchin poley marayaa......!!!!!?????

    DisAgree Agree [24] Reply Report Abuse

  • Monty Dotor, Mangalore

    Sat, Aug 06 2022

    It is known as Gajbajambat....

    DisAgree Agree [9] Reply Report Abuse

  • Rudolf Rodrigues, Mumbai

    Sat, Aug 06 2022

    "Bengaluru, Aug 5 (IANS): The Special Inquiry Wing of the Central Crime Branch (CCB) of the Karnataka police busted a racket by a syndicate of manufacturing fake stamp papers and arrested 11 persons in Bengaluru on Friday. The gang was operating under the nose of the revenue department office in Kandaya Bhavan in the heart of Bengaluru city. The accused were printing and selling duplicate government stamp papers. The Karnataka government had banned the open sale of stamp papers following the multi-crore Telgi fake stamp paper case in the 1990s." If this news is true then anything is possible in Kar-Nataka!!!!

    DisAgree [1] Agree [10] Reply Report Abuse

  • Dylan, Mangalore

    Sat, Aug 06 2022

    Cannot trust anyone after 2014, from pradhan sevak to common man.

    DisAgree [5] Agree [11] Reply Report Abuse

  • Rathan, Mangalore

    Sat, Aug 06 2022

    Dylan You say as if there was Ramrajya before 2014 .banks wrote lakes of crores as bad debts between 2004 and 2014

    DisAgree [14] Agree [7] Reply Report Abuse

  • Observer, Mangalore

    Sat, Aug 06 2022

    Car street a hub of sanghi mindsets has become talk of the city today.

    DisAgree [4] Agree [16] Reply Report Abuse

  • Bharath Raj, Mangalore

    Sat, Aug 06 2022

    Something fishy what about the dairy farm which was pledged.only then they can proceed with the guarantor land

    DisAgree Agree [8] Reply Report Abuse

  • Rudolf Rodrigues, Mumbai

    Sat, Aug 06 2022

    Car Street reminds of the late activist, Vinayak Baliga!!!

    DisAgree [2] Agree [14] Reply Report Abuse

  • Felix Pinto, Koteshwara

    Sat, Aug 06 2022

    God gave you and now taken it back! If your property is genuinely earned, you will get back tenfold. Never again be duped by people specially those who are your own.

    DisAgree [1] Agree [8] Reply Report Abuse

  • Madhav, Mangalore

    Sat, Aug 06 2022

    Every dispute has two sides. We only know one side. Bank is after the guarantor and his mortgaged property. Guarantor does not want to lose his asset and wants to bail out of his obligation to the bank. He has in all probability no leverage with the borrowers. It is for the police to establish if there was a con job or a real business failure. I am assuming bank would have done its due diligence in validating documents of the farm in Maharashtra which should have been the primary collateral. If there was indeed misappropriation of loan funds, then the Bank should have initiated the fraud case. So something is not adding up.

    DisAgree Agree [16] Reply Report Abuse

  • Monty Dotor, Mangalore

    Sat, Aug 06 2022

    Agreed. The banker who sanctioned the loan might have got --% , otherwise the bank could have recovered the amount by selling the "dairy" in Maharashtra (if it really existed)as only 60,% of the value of property is given as loan by any bank.The new manager or vigilance committee might have found out the golmal, now the guarantor will have to face the music. Action should also be taken against this person who sanctioned the loan without due diligence. Never a borrower, lender or guarantor be.....

    DisAgree [1] Agree [22] Reply Report Abuse

  • k b r, Mangala Uru

    Sat, Aug 06 2022

    "chors of car street" ... new movie by Anurag Kashyap...

    DisAgree [5] Agree [20] Reply Report Abuse

  • Dinesh, Mangalore

    Sat, Aug 06 2022

    Lol... Same as Kudroli, Ullala, Katipalla GANG

    DisAgree [12] Agree [6] Reply Report Abuse

  • Rudolf Rodrigues, Mumbai

    Sat, Aug 06 2022

    Guarantor mammu ke pass itna bada property kahan se aaya??

    DisAgree [2] Agree [17] Reply Report Abuse

  • Sameer, Riyadh

    Sat, Aug 06 2022

    chalo...khatra tal gaya.

    DisAgree [1] Agree [4] Reply Report Abuse

  • Monty Dotor, Mangalore

    Sat, Aug 06 2022

    Car street gang???

    DisAgree [5] Agree [20] Reply Report Abuse

  • Chandu, Karla

    Sat, Aug 06 2022

    These typical Cheddy bhakts maamu gangs putting Topi to own......is not uncommon. Now Bhat Maamu has to go round and round at the car street with ringing bells..... gati Govinda.....!!!!!

    DisAgree [4] Agree [19] Reply Report Abuse

  • Rudolf Rodrigues, Mumbai

    Sat, Aug 06 2022

    Corruption and cheating stooping to such low levels ; Car street v/s Car street!!!!

    DisAgree Agree [18] Reply Report Abuse

  • k b r, Mangala Uru

    Sat, Aug 06 2022

    Madhwaraya Bhatta is said to be retired bank manager... then he should have known the risk of standing guarantor and pledging his land for loan taken by others...

    DisAgree [6] Agree [20] Reply Report Abuse

  • Monty Dotor, Mangalore

    Sat, Aug 06 2022

    Oye KBR , Vasudeva is the retired banker not Madhvaraya ....

    DisAgree Agree [12] Reply Report Abuse

  • real kujuma, kodial

    Sat, Aug 06 2022

    common factor is soft crimes and vishwas ghath of this kind...mamu gang putting topi....from outside subaga...inside kalla..typical saffron supporter characteristics

    DisAgree [9] Agree [28] Reply Report Abuse

  • Anand, Surathkal

    Sat, Aug 06 2022

    Highly unethical act by the trio. It is a breach of trust.

    DisAgree [1] Agree [17] Reply Report Abuse

  • prakash, Manipal

    Sat, Aug 06 2022

    All starts in good or great faith... Later fragrance turns into foul smell over time... There is a saying in Kannada... " Kottava Kodangi... Eeskondava Eerbadra..." This is the human story from time immemorial... Only difference is nowadays in many places physical is replaced by online topi...

    DisAgree [1] Agree [16] Reply Report Abuse

  • SMJ, Mangalore

    Sat, Aug 06 2022

    The names of the accused seems very holy but their deeds are completely opposite to it. Don't blindly trust anyone in this too greedy world

    DisAgree [4] Agree [21] Reply Report Abuse

  • Johnson, Mangalore

    Sat, Aug 06 2022

    Names are kept by their parents and it is not their choice to have holy names. For eg. meaning of Adolf ( Hitler's first name) is Noble, but all know what noble work he did to the humankind....

    DisAgree [3] Agree [13] Reply Report Abuse

  • Rudolf Rodrigues, Mumbai

    Sat, Aug 06 2022

    He meant "lineage"; hope you understand??

    DisAgree [2] Agree [11] Reply Report Abuse

  • Monty Dotor, Mangalore

    Sat, Aug 06 2022

    Adolf rhymes with Rudolf, but Rudolf is noble...

    DisAgree [3] Agree [8] Report Abuse


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Title: Mangaluru: Guarantor of Rs 2.5 crore property conned by trio, complaint filed



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