Belagavi: The two accused persons who are currently in custody for the murder of a missing Jain pontiff in Karnataka, have confessed of killing him because he had asked them to repay loans, police sources said on Saturday.

Acharya Shree 108th Kamakumara Nandi Maharaja from Chikkodi went missing on Thursday from the Jain Basadi at Nandi Parvat in Horekodi.

Preliminary probe into the case has revealed that the pontiff was hacked to death in the premises of the ashram and later the accused disposed his body parts.

One of the accused from Khatakabhavi village, was a devotee of the pontiff and shared a good rapport with the victim.

After winning his confidence, the accused went to borrow lakhs of rupees as loans.

When he was asked to repay the loan by the pontiff, he masterminded a plot to kill the latter with the help of the second accused, a youth from Chikkodi.

A seach operation is currently underway to recover the victim’s mortal remains.

After the pontiff was reported missing, the management told the police that property documents related to the Jain Basadi were also unaccounted for.

The inmates of the ashram last saw him at about 10 p.m. on July 5.

The pontiff had been residing at the Jain Basadi for the last 15 years.

A missing person’s case was lodged with Chikkodi police station by Bheemappa Ugare, the President of Acharya Kamakumaranandi Charitable Trust.

During the course of investigation, the accused confessed to killing the pontiff but gave contradictory statements regarding the disposal of the body.

First the accused told the police that they threw the body into an abandoned well in Katakabavi village. But when searched, the remains were not found.

The accused later claimed of disposing the body into a river, sources explained.

A large number of devotees have gathered at the ashram and condemning the incident.

They are demanding stringent punishment against the perpetrators.

Sunitha, a devotee, said accused should also meet the same fate as that of the late pontiff.

“Maharaj was cordial with all. He didn’t have any difference of opinion with anyone and always helped the poor,” she claimed.