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Fraud alleged in the name of subsidy loans; complaints filed against two showroom owners in Peenya and Bagalagunte police stations, investigation underway.
A major fraud has come to light involving electric bike purchases under the pretext of subsidy loans, with allegations that crores of rupees were siphoned off from unsuspecting customers.
Two EV showrooms, Apply EV Showroom and Bilker Technology Showroom, have been accused of cheating thousands of customers by misusing the concept of government subsidy and bank loans.
A complaint has been filed against showroom owner Rakesh Hanumanth Bilker in connection with the alleged fraud. Cases have been registered at the Peenya Police Station and the Bagalagunte Police Station. Police have begun an investigation into the matter.
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According to complaints, customers were told that they only needed to pay ₹20,000 as a down payment to purchase an electric bike. The remaining amount, they were assured, would be covered by subsidy support from the Central Government.
To process the deal, showroom representatives collected customers’ Aadhaar and PAN card details. Using these documents, bank loans were arranged in the customers’ names.
However, instead of processing reasonable loan amounts, the accused allegedly sanctioned loans of ₹1.5 lakh for ordinary bikes that were actually worth only around ₹35,000. Customers later realised that they had been trapped in large loans far beyond the value of the vehicles they received.
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It is alleged that nearly 3,250 people have fallen victim to the scam under the name of subsidy benefits. Many customers are now reportedly caught in a debt cycle due to the inflated loans taken in their names.
Police have registered a case and are currently investigating the financial transactions and documentation involved. Authorities are examining how the loans were processed and whether further individuals are linked to the alleged scam.
Further action will be taken based on the outcome of the investigation.
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