Activist files plaint with FM against Pramod Madhwaraj

Social activist T J Abraham has filed a complaint against Fisheries Minister Pramod Madhwaraj and some employees of Syndicate Bank, saying that the bank has sanctioned Rs 193 crore loan to the minister by mortgaging property worth just Rs 1.1 crore.

In his complaint to Union Finance Minister Arun Jaitley on Tuesday, Abraham claimed that Syndicate Bank, Malpe branch, had sanctioned multiple loans to Madhwaraj by mortgaging his 3.08-acre land in Uppuru village, Brahmavara hobli, Udupi district.

The total value of the pledged 3.08 acres of land was just Rs 1,10,80,000 and the bank sanctioned a Rs-193 crore loan, he said in a complaint. Abraham has also sent a copy of the complaint to the Governor, Reserve Bank of India, along with documents.

While seeking a probe against the officials of the bank also, he said the government should find out whether the bank followed norms while sanctioning the loan.

He claimed that all the documents submitted along with the complaints were based on an affidavit filed by Madhwaraj in the 2013 Assembly polls.

Reacting to the charges, Madhwaraj said they were baseless and there was no truth in them.

"My family is dealing with Syndicate Bank since my father's time. We are doing honest business. Our business dealings are very transparent. I have been filing the details of my assets and liabilities with the Karnataka Lokayukta every year," he said.

"Bank officials are not fools to give huge amount of loan by mortgaging small property. I have mortgaged more properties to the bank than required," he said.