VV Puram Police filed a cheating complaint against Sridevi R, 35, medical doctor and resident of Denkanikottai, Tamil Nadu; Jayalalitha KN, 52, of JP Nagar; and Meghanatha BR, 60, from Chittoor, Andhra Pradesh. The complaint was filed by Harish Kumar M, Branch Manager of Sreenidhi Souharda Sahakari Bank Niyamita, VV Puram on March 24.
Kumar said the suspects are members of the bank. Sridevi applied for a loan to purchase a site owned by Jayalalitha. They submitted documents relating to the site in November 2019. Sridevi’s husband, Dr. Ravishankar Babu, a doctor, vouched for the loan. The bank sanctioned the loan after checking the documents and disbursing Rs 50 lakh through a payment order.
After paying two EMIs, Sridevi stopped the payments. The bank decided to recover the amount by selling the site at a public auction under the provisions of the Law on Securitization and Reconstruction of Financial Assets and Enforcement of Security and announced it through newspaper advertisements on March 14. Officials also pasted a poster advising of the public auction on the property’s perimeter wall.
Upon seeing the posters, locals alerted Bangalore Metropolitan Task Force (BMTF) officials that the site was actually a road. BMTF officials have written to the bank informing them of this and bank officials have verified the same with the relevant authorities.
The disbelievers had altered the sanctioned plan of the route and shown the road as a site. They had registered the conspiracy using false documents. The property was first sold privately in 2006 and later Jayalalitha bought it. The BBMP had canceled his khata in 2015. But Jayalalitha and other suspects hid these facts from the bank. Meghanatha was the middleman in the scheme.
The police registered a case of fraud, forgery and criminal association against them.