The anti-corruption wing of the Central Crime Branch (CCB) booked three people, including the directors of an organic agricultural and food business company, for allegedly cheating a bank after availing a loan of ₹56 crore in 2009. The money was used for purposes other than what was stated in the loan application, said the police.
Based on a complaint filed by the Deputy General Manager, IDBI, the CBI booked the accused Ramesh Gowda and his wife Ramya, who are directors of Green Organics Private Limited, and their associate Chandrashekhar Balasubramanyam. They were on Wednesday charged with criminal conspiracy, cheating, criminal breach of trust, criminal misconduct and falsification of documents.
In his complaint, the deputy general manager said that the accused had offices in Sadashivanagar. The company was registered as an export unit involved in the production and export of English herbs with production facilities in Doddaballapur, Srirangapatna and Beluru.
“They approached IDBI bank with documents showing that they had availed of a loan from another bank, and requested that the loan be taken over. They submitted documents, including the letter of loan sanction by the previous bank,” said the police.
According to the FIR, after considering the documents submitted, the loan was taken over. The accused had requested for a restructure of the sanctioned loan in 2012, but defaulted in payment. The bank termed the loan as an NPA and initiated the recovery process.
During the course of verification, however, bank officials found large-scale irregularities and diversions of funds. “They found that the directors had taken a loan from another bank with documents submitted to IDBI, without their knowledge,” said the police.
Officials, who have registered a case, suspect the involvement of bank officials in this scam.
