I-T raids Shivamogga DCC bank president

Income Tax officials raided the premises belonging to Congress leader R M Manjunath Gowda, president of Shivamogga district cooperative central bank, on Wednesday.

Simultaneous searches were conducted at his house in Thirthahalli and a farmhouse at Karakuchi on the outskirts of the town in Shivamogga district.

Sources said a team is also conducting searches at the district cooperative central bank's office in Shivamogga and other co-operative banks he is associated with.

Gowda was prime accused in the fake gold loan case. The Shivamogga police had arrested Gowda in August 2014 in connection with issuance of loans against fake gold.

The probe revealed that the bank suffered a loss of Rs 62 crore due to irregularities. Gowda had lost the 2013 Assembly elections from Thirthahalli and later re-joined Congress.

 

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