Couple take Rs 16-cr loan from bank, flee abroad

Couple take Rs 16-cr loan from bank, flee abroad

A married couple, said to be directors of a private company in Bommasandra Industrial Area, are suspected to have fled abroad after taking a Rs 16-crore loan from a bank.

Subba Rao, the manager of Lakshmi Vilas Bank in Koramangala, has complained to the police that B S Padmanabhachar and wife D Bharathi had taken a Rs 16-crore loan by submitting property documents of various people claiming they were sureties for them. The bank checked the documents and found no discrepancy.

The couple paid monthly instalments until August 2014. When the bank staff went to their house in December 2014 to find out why they had stopped the payments, the couple were found to have moved out. The bank later found that the couple had sold the properties and fled abroad.

A senior police officer said, “The couple ran a financial firm and took property documents from some people. They used these documents to obtain the loan. We are contemplating issuing a lookout notice against the couple.”

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