Southern States - Karnataka-Bangalore   

Fraudster's associate arrested for cheating

By Our Staff Reporter

BANGALORE July 4. S.K. Paramesh (49), advocate, who is alleged to be an associate of the fraudster, Karunakara Vijay, deported from Nigeria to India, was arrested on Friday.

The Kengeri police arrested Paramesh in his house at Kumara Park on charges of cheating Shivarudrappa, an industrialist, of Rs. 35 lakh and threatening him with a revolver. The weapon has been seized.

Police said the CBI was on the look out for Paramesh in at least two cases of cheating registered against Vijay for defrauding banks of several crores of rupees in the City. The Kengeri police, however, did know this fact which came to light only during an interaction the Assistant Commissioner of Police, Kengeri Sub-division, Lavakumar, had with the CBI officials. The CBI has since established contact with the City police to continue its investigations of the cases.

The allegation of Mr. Shivarudrappa of Wellknit Machine Tools and Automotives Private Ltd. is that he paid Rs. 35 lakh to Paramesh, who had promised to clinch a Rs. 150-crore electrical contract in his favour from the BCC Shipping and Ship Building Corporation of Kolkata. He had arranged to get a letter of credit from Punjab National Bank for Rs. 93 lakh, which turned out to be fake. Mr. Shivarudrappa efforts to get back his money failed.

On Thursday, Paramesh allegedly went with his accomplices to the house of Mr. Shivarudrappa in Kengeri Satellite Town and tried to coerce the latter into returning the letter of credit. He feared that the document could be used against him. When Mr. Shivarudrappa did not oblige, he was threatened with dire consequences at gunpoint.

Paramesh was produced before a City Magistrate.

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