Mahalakshmi Bank Scam Allegations: Oath-Taking Ceremony Cancelled, Prayer Held at Karamballi Temple
Udupi: The oath-taking ceremony scheduled for today at the Karamballi temple, intended to address the alleged irregularities at the Malpe Mahalakshmi Co-operative Bank, was unexpectedly canceled. In its place, victims and bank officials gathered to offer special prayers on Saturday, November 11, seeking divine intervention for a resolution to the ongoing issues surrounding the bank.
A significant turnout of victims attended the prayer ceremony, which was held in the presence of Raghupathi Bhat, former MLA, and the temple administration. The bank’s Chief Executive Officer, Sharath Kumar Shetty, also participated in the prayers alongside his staff. This gathering occurs amidst growing concerns regarding the bank’s operations and serious allegations of misconduct. Raghupathi Bhat has been a vocal advocate for the victims, calling for a Special Investigation Team (SIT) probe into the alleged irregularities at the bank.
In remarks to reporters, Sharath Kumar Shetty vehemently denied the allegations of massive irregularities, characterizing them as unfounded and damaging to both the bank’s and its employees’ reputations. He asserted that the bank was being unjustly targeted and that certain customers’ false accusations had necessitated their prayer for justice at the temple. Shetty emphasized that the bank will pursue legal action within the cooperative society framework to safeguard its customers’ interests.
The decision to cancel the oath-taking ceremony followed discussions among community leaders, including Pajavara Sri and Palimaru Sri, as well as Mogaveera community representatives G. Shankar and Jaya Kotian. Despite the initial plan for Raghupathi Bhat to take an oath regarding the bank’s irregularities, the ceremony did not proceed as anticipated.
Shetty further stated that customers who have borrowed funds are expected to repay their loans with interest, reinforcing the bank’s commitment to social responsibility and amicable resolution of disputes. He expressed concern over personal attacks and misinformation circulating on social media, asserting that all stakeholders agree on the necessity for customers to fulfill their repayment obligations.
The bank’s managing director addressed allegations questioning his integrity and capability, urging that the bank should maintain direct communication with its customers. He called for community leaders and Swamijis from the Mogaveera community to mediate in resolving the situation, particularly for the thirty-six individuals who have yet to sign the loan repayment agreement and are struggling to meet their obligations. Shetty concluded by stressing the importance of a swift and amicable resolution to prevent further complications.
