Karnataka Fisheries Minister Pramod Madhwaraj accused of bank fraud

A complaint was filed against Fisheries Minister Pramod Madhwaraj for allegedly defrauding a bank to the tune of Rs 193 crore.

Published: 15th March 2018 06:36 AM  |   Last Updated: 15th March 2018 06:36 AM   |  A+A-

By Express News Service

BENGALURU: A complaint was filed against Fisheries Minister Pramod Madhwaraj for allegedly defrauding a bank to the tune of Rs 193 crore. The complaint was filed with the Finance Minister and the Governor by Abraham T J, president of Karnataka Anti-Graft and Environment Forum. However, the minister has dismissed the complaint as baseless.

According to the complaint, Madhwaraj was granted a loan of `193 crore against collateral worth only `1.18 crore. The complaint also names the manager of Syndicate Bank, Malpe Branch, Udupi district, for colluding with the MLA to facilitate the loan. The complaint states, “Madhwaraj secured huge sums of money as loans again and again from Syndicate Bank, Malpe branch, by mortgaging the same properties.” It added that bank managers and others “had full knowledge about this”, resulting in offences under various sections of the Indian Penal Code.

When contacted, Pramod said the complaint was the “biggest lie ever produced”. “It is totally baseless. Our family has had association with the bank for decades. I have a loan, no doubt. But I have given more than required collateral for the loan,” he said.

He added that he will not pursue a legal course against the complainant as he was too busy serving people. “If some people want to defame me, let them,” he added.

Stay up to date on all the latest Karnataka news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp