Bidar: “I have acted within the boundaries of the law in selling the sugar stock of Naranja Cooperative Sugar Factory (NSSK). I haven’t committed any wrongdoing, so there’s no possibility of me going to jail,” stated the factory’s president, D.K Sidharama.
Speaking at a press conference held at Pathrakarthara Bhavan in the same vicinity on Tuesday, he clarified, “Before I took on the role of the factory’s president in March 2020, a mortgage loan of Rs 78 crore was obtained from the DCC Bank using the sugar stock as collateral within the factory. This sugar stock was sold to fulfill the obligations towards the farmers who supplied sugarcane to the factory, and this sale received approval from the Kalaburagi division bench of the High Court. There has been no breach of the law in this matter.”
DCC Bank President Umakanth Nagamarapalli have threatened to imprison Factory President D.K.Sidharama and its managing director. I haven’t erected a 20-foot-high fence. Walls have been built at 83 different locations in the district, and royalties have been duly paid for them. I have not engaged in any illegal property transactions, and I am not concerned about that. In contrast, he has deposited Rs 102 crore in a bank under his brother’s name. Those who have engaged in such activities should be questioned about whether they will face imprisonment. However, I am willing to go to jail for the sake of the farmers,” he declared.
Minister Eshwar Khandre needs to refrain from disseminating false information and confusing farmers. The factory’s overall debt has now surged to Rs 669 crore. Nevertheless, the overseeing minister has been directing officials to investigate an Rs 880 crore loan. These officials have been pressed to carry out the inquiry, with demands for reports every seven days, followed by three days, and even a single day. This relentless pressure from Khandre seems to indicate a rush to incarcerate me,” he remarked.
The Naranja factory, which had remained inactive for 18 years, was reinvigorated under the leadership of former president Gurupadappa Nagamarapalli. MGSSSK was initiated with a loan from the DCC bank, and its debt has now ballooned to Rs 400 crore. When will an investigation be conducted into this matter? Umakanth Nagamarapalli’s father was the deceased son. Why are they being unfairly targeted and held accountable? The Nagamarapalli family has not wronged anyone. It appears that the thirst for power and wealth has surged. In the past, they have faced numerous defeats in elections. Khandre should not overlook that fact,” he suggested.
Eshwar Khandre has no moral standing to speak about the Nagamarapalli family. They have taken control of the peace-promoting educational institution established by Bhalki Pattadevar. In the Bidar Cooperative Sugar Factory, your father and you served as board members and chairmen for 20 years with the assistance of the Nagamarapalli family. In your own household, you, your father, and your brother have wielded power as MLAs and ministers. This continues to be the case. It’s a matter of shame that your father’s actions have now overshadowed the late Umakanth Nagamarapalli,” he stated emphatically.
After I became the chairman, I did not take any loan in the name of the sugar factory. The actual debt, including interest, has now reached ₹669 crores. It is currently not feasible to repay the debt by selling sugar to any sugar factory at the prevailing rates. As per the High Court’s directive on March 18, an amount of ₹8 crores from the total was used to pay the farmers. The factory was brought under political influence, but it has incurred the wrath of farmers and workers. They have already expressed their dissatisfaction with the government.
Amar Khandre is planning to appoint him at the DCC Bank due to their fraternal relationship. Nagamarapalli has played a pivotal role in grooming numerous activists within the district and has made commendable contributions to the field of cooperation. Khandre stressed the importance of preserving the cooperative sector.
