The First Additional Chief Metropolitan Magistrate on Thursday issued summons to Karnataka Silk Industries Corporation (KSIC) chairperson C.P. Yogeshwar and three others, who have been accused of cheating several investors of Rs. 37 crore by promising sites in a private township during 1995-2006.
The Crime Investigation Department had filed chargesheet against Mr. Yogeshwar, his brother C.P. Gangadhareshwar, Mahadevaiah and H.R. Ramesh.
The four were to appear before the court on Thursday but failed to do so. The CID had charged Mr. Yogeshwar, managing director of Megacity (Bangalore) Developers and Builders Ltd., of colluding with the other three in cheating the site aspirants and withdrawing the money.
Keywords: Vigilance action