Karnataka HC gives nod for CID to submit chargesheet in case involving Ramesh Jarkiholi

Bengaluru: The Karnataka High Court on Tuesday granted permission to the Criminal Investigation Department (CID) to file the chargesheet in a case involving former minister and BJP MLA Ramesh Jarkiholi and two others in a case of violating the condition of Rs 439 crore loan sanctioned by the Karnataka Co-operative Apex Bank. The loan was sanctioned to Soubhagya Laxmi Sugars Ltd.

Justice Pradeep Singh Yerur noted that since the investigation has been completed, pursuant to cooperation extended by the petitioner, the chargesheet may be filed before the special court. “Upon filing of the chargesheet, the special court shall not precipitate the matter till further orders are passed by this court,” Justice Pradeep Singh Yerur said.

At the hearing, the prosecution submitted that Jarkiholi has been implicated in the case following the investigation and the chargesheet, running up to 2,000 pages, to be prepared for submission this week.

The petitioners Ramesh Jarkiholi, Vasant V Patil, and Shankar A Pawade have sought directions to quash the FIR registered at Vishveshwarapuram police station under IPC sections 406 and 420. While the petitioners contended that they had tendered their resignations as directors of Soubhagya Laxmi Sugars Ltd, the complaint stated that the act of resignation itself constitutes an offence, since they should have remained as directors until the loan was settled.