The Karnataka CID has filed a chargesheet against BJP MLA Ramesh Jarkiholi, who earlier held the post of Water Resources Minister in the Karnataka government. A member of the Bharatiya Janata Party (BJP), he currently represents Gokak in the Karnataka Legislative Assembly and has previously served as the Minister for Municipal Administration.
BJP leader and former Bengaluru minister Ramesh Jarkiholi, along with several others, faces legal trouble as the CID filed a chargesheet against them in a Bengaluru court over a Rs 439 crore bank fraud case.
The chargesheet accuses Jarkiholi and others of defrauding the Karnataka State Cooperative Apex Bank and district cooperative banks, with a total amount including both principal and interest. Reports also mention that Jarkiholi repaid a portion of the amount before the chargesheet was submitted.
Back in January last year, the bank’s general manager filed a police complaint, alleging that Jarkiholi, chairman of Soubhagya Laxmi Sugars Ltd (Gokak), and directors Vasant V Patil and Shankar A Pawade, borrowed Rs 232 crore from the bank and other lenders between July 2013 and March 2017, according to a report.
The complaint stated that the accused violated loan conditions by altering the company’s board before the loan repayment, which was prohibited.
“The accused made new appointments with an intent to cheat,” the complaint noted, as per reporters.
Following a plea to quash the FIR being rejected by the Karnataka High Court, the CID filed the chargesheet on April 22.
Meanwhile, the CID confirmed that Jarkiholi had repaid Rs 120 crore ahead of the chargesheet filing. “The bank informed us that Jarkiholi paid Rs 120 crore. A supplementary chargesheet will be filed as the investigation is still ongoing,” the CID said, according to reporters.
Jarkiholi, apart from his previous role as the Water Resources Minister, continues to represent Gokak as a BJP MLA and had also served earlier as Minister for Municipal Administration.
