HASSAN, BELAGAVI: The Income Tax Department is carrying out searches at a few cooperative banks in different parts of the state since Friday and examining all documents.
The I-T officials are conducting searches at the Hassan District Credit Cooperative Bank, which is controlled by JD(S) leaders, since Friday morning. The bank, which has an annual turnover of Rs 1,700 crore, has 34 branches in the district with over three lakh depositors.
The bank has 17 directors, all aligned with the JD(S), with Somanahalli Nagaraj, who is known to be close to former minister H D Revanna, as president. The bank has given out non-farm loans to the tune of Rs 565 crore and farm loans of over Rs 1,000 crore to 1.7 lakh farmers. The I-T Department had received complaints regarding the bank’s activities following with the searches are being conducted.
In Belagavi district, Income Tax officials from Goa are searching the Kittur Rani Chennamma Urban Credit Cooperative Bank in Bailhongal which is headed by Congress leader V S Sadhunavar.
The officials summoned Sadhunavar and his son Kiran to the bank and grilled them. They were also collecting information about the 262 customers who have lockers in the bank.