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Udupi: Trio accused of cheating bank of Rs 3.28 crore

  •   Wed, Nov 12 2014 11:38:10 AM

Daijiworld Media Network – Udupi (RJP)

Udupi, Nov 12: A cheating case has been registered at Udupi town police station involving an amount of Rs 3.28 crore.

As per the details, a loan of Rs 3.28 crore was availed to start a business venture. It is alleged that the business was never started.

Manohar Kumar, Meena Manohar, and John Mathias are the three accused in this case.

The trio had approached Canara Bank, Court Road branch and applied for a loan to start a marine business venture named Amruth Industries at Bellampalli. The bank had sanctioned Rs 3,28,69,000 on July 7, 2011.

As per the complaint, the money was not used for the intended purpose. In February 2012, two persons named Vasudeva and Pritish Kidiyoor were taken as partners, replacing John Mathias.

Udupi police have registered a case and further investigations are on.
  

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  • Santhosh, Uppoor/ Dubai

    Fri, Nov 14 2014

    KRPRABHU, bank people have to make some homework, not only paper works. i pity on your comments, High net worth NRI'S bank donot want to give loans. Use less political party member they want to feed more public money after all it is not belong to them,it is all public money. Now syndicate bank and many more bank CMD are gone to jails already

    DisAgree Agree [1] Reply Report Abuse

  • Joseph, Udupi

    Thu, Nov 13 2014

    Clear case of Bank Officials hands in glove with the borrowers,all share the loot equally. Ultimately, some investigation will take place as an eye wash and the loan will be accounted as bad and non-recoverable and included in the NPA of the Bank. This is nothing unusual as it happens in all the banks. If you are get caught, you are a "Chor".

    DisAgree Agree [3] Reply Report Abuse

  • KRPrabhu, Bengaluru

    Thu, Nov 13 2014

    There are unscrupulousdealers/ suppliers of machineries/equipements/raw materials etc.,to borrowers who have no proper VAT,TIN account but only beautifully printed invoices.They open their account in their 'favourite bank'somewhere to encash the DDs received from parties who have borrowed bank loans.Banks seldom cross verify their enetity genuinly to safe guard the interest of borroer/bank.DDs for uge sums received through loaning banks are encashed and distibuted among various parties including the bank borrower.Banks do get beautifully printed stamped receipts/invoices to satisfy the compliance of loan terms and ensure end use use.But goods does not reach the actual destination.Bank Managers strong point for defence is loan is released through DD/direct payment of funds to dealer!!!
    A number cases happened like this...

    DisAgree [2] Agree Reply Report Abuse

  • KRPrabhu, Bengaluru

    Thu, Nov 13 2014

    Generally no PSU bank denies Education loan unless there are deternt factors.......Dont pass comments without knowledge......

    DisAgree [1] Agree [2] Reply Report Abuse

  • Gerald Dsouza, Riyadh.

    Wed, Nov 12 2014

    Full setting hai beedu....!

    DisAgree Agree Reply Report Abuse

  • asif, asif karkala

    Wed, Nov 12 2014

    GOLMAL HAI BAI SAB GOLMAL HAI...Babu bai tumne kuch suna kya bribed nd looted

    DisAgree Agree Reply Report Abuse

  • Santhosh, Uppoor/ Dubai

    Wed, Nov 12 2014

    This is reallly loan for bribe case. When I approached the canara bank to buy flat, they are asking so many questions and documents. Even i had deposit more than the loan request. Better investigate loan for bribe case and also cheating case.

    DisAgree [2] Agree [24] Reply Report Abuse

  • KRPrabhu, Bengalur

    Thu, Nov 13 2014

    Santhosh,Upoor/Dubai
    A small clarification.Having deposit even worth of Housing loan limit applied does not qualify for loan sanction unless backed by other things ,mainly repayment capacity to enable the bank to set EMIs,IT clearance,clear title realting property to be purchased,builders reputation in case of promoter of flat,etc., matter more than deposits.Deposits are not taken as security for HL which is not necessary.

    DisAgree [1] Agree [3] Reply Report Abuse

  • SAMANYA JANA, mangalore

    Wed, Nov 12 2014

    eaventhough this Canara Bank was founded for financing the needy and prosperity of Canara region, the present policy of the bank is to harass the customers and gain windfall profits by threatening the customers. The present day officials, mainly olderones, in collision with customers have made a lot of money. you just go through the news papers, you find a lot of SERFASI Act notices from this bank, belonging to very meagre amount of below 2-5 lacs. whereas crores of bad debts are brushed ubder carpet by the utives of the bank. I know a case wherein, a default of 3 crore was made good by another borrower just yielding to the threat of utives. there is a nexus of retired utives and the present staff, who work as real estate agents for all these transactions. in the guise of technical reasons and RBI guidelines, these officers are exploiting gullyble customers. The cashew industries are the main customers of this bank. The bank advance them without any security, enhancing the credits in multiples year on year. The fact is that these borrowers are close relatives of the utives and they have financial interest in these factories. A CBI enquiry into the underhand dealing os the utives of this bank will bring a lot of such issues.

    DisAgree [2] Agree [5] Reply Report Abuse

  • rajesh, mangalore

    Wed, Nov 12 2014

    It seems the Manager was hand in glove with borrowers.

    DisAgree [1] Agree [20] Reply Report Abuse

  • krishna bhatt, moodabidri

    Wed, Nov 12 2014

    Here FIR Should be filed against Bank branch manager for misuse of power, because now it is difficult for a common man to get the loan sanctioned. Bankers are not ready to give for Rs.5000/- O.D (Latest P.M's new Programme).

    DisAgree [1] Agree [11] Reply Report Abuse

  • Amin Bhoja, Patte / Riyadh

    Wed, Nov 12 2014

    Corrupt system and the corruption is the main reason behind this huge loan,who's money any way!! who is the loser!! not the bank manager nor it's related staff,it is the the Public money anyway .!!!

    DisAgree [1] Agree [10] Reply Report Abuse

  • nelson pinto, udupi / oman

    Wed, Nov 12 2014

    May be its " C " company......

    DisAgree [3] Agree [9] Reply Report Abuse

  • Suleman Beary, Udupi

    Wed, Nov 12 2014

    Bank manager as well Trio are innocent...papa..

    DisAgree [9] Agree [5] Reply Report Abuse

  • Abu Mohammed, Mangalore/Riyadh

    Wed, Nov 12 2014

    Federal bank will have to investigate their loan to SG now!

    DisAgree [2] Agree [11] Reply Report Abuse

  • Pius DCruz., Belmanu

    Wed, Nov 12 2014

    The Bank officer is responsible for this fraud. Without security deposit like Land etc nobody sanctions loan. If paid they monitor the progress of the company by visiting company premise. Surely the Bank Manager is involved in this case.

    DisAgree [1] Agree [24] Reply Report Abuse

  • majid, MANGALORE

    Wed, Nov 12 2014

    without bribing the manager it is impossible to get that loan on earth, even though manager is sacked he has made enough for some it is called business and some call it corruption.

    DisAgree [2] Agree [23] Reply Report Abuse

  • Sachidanand Shetty, Mundkur/Dubai

    Wed, Nov 12 2014

    I had a bitter experience with this Canara Bank Udupi Court Road Branch when I applied for 2nd flat-2BHK in same building where I stay in Udupi. Even after pledging my 1st flat-3BHK, they still need one Guarantor who is having Bank Account in their Branch but such Guarantor should have some property too!!!! Everything they say as per RBI guidelines and Banking Policy!!! When I threatened them to close my NRE A/c along with all FDRs’ then the Branch Manager bent down and got the loan passed within couple of days time but only when I agreed to give one Guarantor with Bank A/c in their Branch!!!!

    DisAgree [5] Agree [28] Reply Report Abuse

  • Flavian, Mangalore/Kuwait

    Wed, Nov 12 2014



    First of all, loan must have been granted against some security, mortgage of property or assets.

    If funds are used, still bank should be having enough collateral to use and close the loan.

    DisAgree [1] Agree [21] Reply Report Abuse

  • ilyas, qatar

    Wed, Nov 12 2014

    Dal mei kuch kala ye gareeb logonko 10,000 nahi miltaye with out secirity pir kaisa diya bank manager our staff ko acha comission mila hoga sayad

    DisAgree [3] Agree [29] Reply Report Abuse

  • vellano1, Mumbai

    Wed, Nov 12 2014

    loan usi ko milta hai, jo dikhayega, usko paise ki koi zaroorat nahi!! .. bank wale dandha karne baithe hain, charity nahi! once he shows, he has enough to repay, then only loan is given! ottrasi paaterodchi maraya...! bank manager has to take security collateral and then give loan and they know how to recover as well!

    DisAgree [11] Agree [11] Reply Report Abuse

  • Abu Mohammed, Mangalore/KSA

    Wed, Nov 12 2014

    andh anna, eer maatra paaterle, If the Bank manager has taken the security for this loan , they would not have bothered to complain but just auction their assets, Cheat malthinayna pudhar mini bether aaditthinda ninna comment bethene aathu attaya?

    DisAgree [1] Agree [12] Reply Report Abuse

  • ilyas, qatar

    Wed, Nov 12 2014

    Vellano1...amt dekho kitnaye itna bada amt bina verifying kaise diya?10000 loan keliye 100 bar verify karke sab record clear yetho miltaye itna bada amt bina verify kaise mila?

    DisAgree [1] Agree [8] Reply Report Abuse

  • Ismail, Moodbidri

    Wed, Nov 12 2014

    You are right. 4 years back when I visited one bank, I found an old man was very upset. I came to know that he has applied for education loan for his son. He visited bank many times. For some silly reasons, they refused to give him loan.

    DisAgree [2] Agree [8] Report Abuse

  • ಹನೀಫ್, ಶಿರ್ವ - ಶಾರ್ಜಾ

    Wed, Nov 12 2014

    POORA DAAL HI KAALA HAI... MANAGER NA POORA ACCOUNT CHECK MALPULE, COMMISSION DA VANTE KAAS ANDA REFUND SIKKU.

    DisAgree [2] Agree [6] Reply Report Abuse

  • Stan, Udupi/ Dubai

    Wed, Nov 12 2014

    How the bank can give such a huge amount without verifying properly?.Bank officials may be involved .

    DisAgree [6] Agree [50] Reply Report Abuse

  • Prem p., Kudla

    Wed, Nov 12 2014

    Where there is profit, bank officials sanction loan quickly. Otherwise you won't get single paisa!!!!!!

    DisAgree [1] Agree [22] Reply Report Abuse

  • India First, India

    Wed, Nov 12 2014

    If a honest man approach our banks he will not get 3 crore loan so easily !! But 420's finds their ways...

    DisAgree [1] Agree [49] Reply Report Abuse

  • prem, moodbidri

    Wed, Nov 12 2014

    I had approached bank for 3 Lakh loan and they made me struggle a lot to obtain loan. Lot of formalities, hick ups, glitches OMG.
    But influential people will get loan so easily & they make bank fool nicely.

    DisAgree [1] Agree [7] Reply Report Abuse

  • Shivappa, Mangaluru

    Wed, Nov 12 2014

    GOL MAAL Company

    DisAgree [2] Agree [33] Reply Report Abuse

  • Hubert D'souza, Mangalore Dubai

    Wed, Nov 12 2014

    They Started Their Business In Fish Market!!!!!!!!!!!!

    DisAgree [3] Agree [50] Reply Report Abuse


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Title: Udupi: Trio accused of cheating bank of Rs 3.28 crore



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