Bhatkal: A case of defrauding Axis Bank's Bhatkal branch by obtaining a loan of over 86 lakh rupees using counterfeit gold instead of genuine gold has been uncovered.

According to the Bhatkal police, two cases have been registered in connection with this incident based on a complaint filed by the bank manager. The bank manager has alleged that a bank staff member, Udaya S. Raikar, residing in Bhatkal Asarkeri, is also involved in these cases, as he was responsible for verifying the authenticity of the gold.

In the first case, the bank manager has accused the following individuals: Sunanda Panduranga Naik of Bhatkal Main Road, Sulochana Vighneswhar Naik of Kumta Devthakkal, Hemavathi Umesh Naik of Sagar Nagavalli, Sarita Ratnakar Bhandari of Sirsi, Keshav Nagappa Naik of Mood Bhatkal, Prakash Ramachandra Achari of Bhatkal Jali, and Manjunath Narayan Naik, a resident of Bhatkal Chauthani. The bank suspects them of borrowing a loan of Rs. 58,92,400 by depositing fake gold between March 1 and March 30, 2023.

In the second case, the accused individuals are Nagaraj Krishna Naik, a resident of Bhatkal Jali Kodi, Manjunath Narayan Naik of Chautani, Sunanda Panduranga Naik of Bhatkal Main Road, and the gold inspector Udaya S. Raikar from Bhatkal Asarkeri.

They are alleged to have borrowed a loan of Rs. 27,54,900 between February 6 and February 20, 2023, using counterfeit gold.

The branch manager of Axis Bank in Bhatkal, Sudhir Surendar Revankar, has lodged a complaint at the Bhatkal town police station. The police have registered the complaint and initiated an investigation into the matter.