A Karnataka-based cooperative bank in Mysuru city has come under scrutiny following allegations of irregularities in the sanction and disbursement of a Rs 2.20-crore loan, according to a media report.
The report said a complaint was filed with Devaraja Police against four officials of Sri Kanyakaparameswari Co-operative Bank Ltd. (SKPC-Bank), alleging that the loan was disbursed despite the application having been rejected by the bank’s Loan Sub-Committee and Management Board.
According to the reported complaint, Bank President B. Nagesh named CEO Y.P. Naresh, Branch Manager J. Sathyanarayana Shetty, Senior Assistant M. Parashiva and Junior Assistant Karthik as accused, along with loan applicant G. John.
Police have reportedly registered FIR under relevant provisions of the Bharatiya Nyaya Sanhita (BNS), including sections relating to breach of trust and cheating.
The bank has reportedly suspended the four employees pending further proceedings.
Devaraja Police are examining the allegations and transactions linked to the loan, the report added.
