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Jun 6: Private sector lender Karnataka Bank has reported to the RBI that it has been defrauded of over Rs 285 crore consequent to loans gone bad to four entities including DHFL.

A total of Rs 285.52 crore has been reported as fraud wherein the bank was one of the consortium lenders during 2009 to 2014 to Dewan Housing Finance Corporation Ltd (DHFL), Religare Finvest, Fedders Electric and Engineering Ltd and Leel Electricals Ltd, Karnataka Bank said in a regulatory filing on Friday.

The maximum is owed by DHFL at Rs 180.13 crore, followed by Religare Finvest Rs 43.44 crore, Fedders Electric Rs 41.30 crore and Leel Electricals Rs 20.65 crore.

"DHFL (defaulted entity) dealing with us since 2014 had availed various credit facilities under consortium arrangement wherein, we were one of the member banks. In view of Early Warning Signals (EWS) in the conduct of the account and other developments, the account was red flagged on November 11, 2019.

"The borrowing account was classified as Non-Performing Asset on October 30, 2019 and now, for misappropriation & criminal breach of trust & diversion of funds in the credit facilities extended earlier to the company, a fraud amounting Rs 180.13 crore has been reported to RBI," Karnataka Bank said.

Likewise, Religare Finvest Ltd (RFL) was dealing with the bank since 2014, availing various credit facilities.

Following classification of this account as non-performing in October 2019 by a consortium member, Karnataka Bank reported to RBI a fraud amounting to Rs 43.44 crore in the credit facilities extended earlier, on account of diversion of funds.

Leel Electricals was classified as NPA account in March 2019 and it reported to RBI a fraud amounting to Rs 20.65 crore in the credit facilities to the company on account of diversion of funds.

"In all the referred three non-performing accounts, necessary provisions have been made in full to be spread across four quarters," it said.

Fedders Electric and Engineering Limited was reported as NPA in July 2018 by a member bank in consortium, subsequent to which Karnataka Bank reported fraud of Rs 41.30 crore on account of fund diversion.

The account has already been fully provided for, it added.

Bengaluru, May 3: Undergraduate and postgraduate students skipping online classes held by their universities run the risk of being debarred from writing their exams. 

State universities, which are monitoring the attendance of online classes, are asking their affiliate colleges to send the monthly online attendance details and this would reflect in their regular attendance. This would apply to those studying professional courses like medicine and engineering. 

State medical education minister Dr K Sudhakar has asked all medical colleges to regularly send attendance details to the Rajiv Gandhi University of Health Sciences (RGUHS).

RGUHS vice-chancellor Dr Sachidanand confirmed to DH that the varsity is indeed monitoring the attendance of students. “Online classes are equal to classroom teaching. (Such method of conducting classes) are necessary during the Covid-19 pandemic and the nationwide lockdown,” he said.

According to the Supreme Court directions, students should have 75% attendance to be eligible to appear for the final exams. There could be relaxations if they have health issues. If students are bunking online classes, it would reflect on their minimum attendance necessary to appear for the exams, the vice-chancellors of state-run varsities said.

Bangalore University vice-chancellor Prof K R Venugopal said most of the students are attending online classes and teachers are messaging the parents of those who are irregular. “(Of course) if they fall short of the minimum attendance, they won’t be allowed to appear for the exams,” he said.

Bengaluru North University vice-chancellor Prof T D Kemparaju said the administration has asked its teachers to record details of students attending online classes and update the university.

Mixed signals 

Meanwhile, the University Grants Commission (UGC) on Wednesday issued guidelines directing all universities to treat the lockdown period as “deemed as attended” for students and research scholars. Experts pointed out that the order would prompt students not to take the online classes seriously.

“Arrangements have been made at the state varsities to make students attend online classes compulsorily and students are also serious about it. Now, because of the UGC guidelines, they may bunk classes,” said the vice-chancellor of a state-run university.

Belagavi, Mar 7: Karnataka Urban Development Minister B A Basavaraj on Saturday said that government would a take decision very soon regarding conducting city corporations election in the state.

Speaking with the media after review meeting at Belagavi city corporation (BCC) here he further said that delimitation exercise of the wards has to be done followed by reservations.

The minister stated that discussions would be held with Chief Minister B S Yediyurappa and would arrive at a decision to conduct the election in about a month’s time.