Udupi, Oct 19, 2020: Shankaranarayana police have registered a complaint against a couple who produced a fake audit report of their cashew factory and took a loan from a bank.
According to the complaint filed by the manager of Siddapur branch of Karnataka Bank, the couple Raghavendra Hemmanna and his wife Ashakirana produced an audit report stating that their factory has a business turnover of Rs 10.90 crore and availed a loan to the tune of Rs 6.70 crore in June 2015.
However, they failed to repay the loan EMI and during the investigation, it was found that the couple had prepared two copies of the audit report and in the one which was fake they had overestimated figures to cheat the bank.
The actual annual turnover of their business venture was Rs 15,08,432. The couple did not pay the due to the tune of Rs 6,74,77,414 as on date.
The bank officials checked the documents to estimate the value of stock stored at the factory but found no stock in the factory premises though the couple had stated there was stock worth Rs 5.27 crore in the factory.
The police are investigating and a case is registered under IPC sections 420, 465, 468 read with 34.
Courtesy: Deccan Herald