Mysore/Mysuru: Narasimharaja (NR) Police have registered a case against the owner of a bag manufacturing company and his friend on charges of taking bank loan in the name of a woman employee and failing to pay back the loan to the bank, thus cheating the woman employee. The woman employee has received a notice from the bank for repayment of the loan amount.

Cases have been registered against 43-year-old Venkateshmurthy, the owner of the company situated in Gandhinagar and his friend 33-year-old Rangaswamy. The woman employee, in whose name Venkateshmurthy and Rangaswamy had taken loan, is 30-year-old Yashodha, a resident of Gandhinagar.

Details: Venkateshmurthy and Rangaswamy, who wanted to take loan from the bank under Prime Minister’s Employment Generation Programme (PMEGP), told Yashodha that the Government would give subsidy to the loan amount and lured her to take the loan and give it to them besides telling her that they would repay the loan amount and give the subsidy which the Government gives to her.

In 2015, they made Yashodha to file an application for the loan under PMEGP at a bank and had got the company named ‘Yashavi Industries’ registered in Yashodha’s name.

On March 19, 2015, the bank sanctioned a loan amount of Rs. 19.30 lakh and Venkateshmurthy had purchased 22 sewing machines from the loan amount and had kept them in his factory. As Venkateshmurthy failed to pay the loan instalments to the bank, Yashodha received a notice from the bank on March 6, 2020 asking her to pay the principal amount with interest amounting to Rs. 31,63,816, following which Yashodha filed a case in the Court.

Following instruction from the Court, NR Police, who have registered a case against Venkateshmurthy and Rangaswamy, are investigating.