Bengaluru: 28-year-old gym trainer hugs woman on road, held

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.

Mangaluru, July 18: The Dakshina Kannada district administration is likely to earmark a common burial ground in the wake of growing resistance from residents of various localities in Mangaluru against burial of Covid-19 victims in their vicinity.

Recently, following protests by residents on Bolar, the body of a Covid-19 victim remained in the ambulance for hours together. The residents refused to allow the victim to be laid to rest at a burial ground attached to a mosque. The victim, who had been a resident of Idya in Surathkal, was subsequently laid to rest after DC’s intervention.

In a bid to avoid such instances in the future, the district administration has identified a burial ground on the outskirts of Mangaluru. 

Former minister and incumbent Mangaluru MLA UT Khader said that he had discussed the problem at length with the officials of the Dakshina Kannada district administration, and had suggested they look for a relatively isolated space on the outskirts of Mangaluru city in order to avoid confrontation with the public.

“A parcel of land at Badaga Yekkuru, some 20km from the city has been identified as being suitable for the burial ground, but the district administration is yet to take a final decision,” Khader said.

Mumbai, Mar 16: Shri Sai Baba sansthan trust on sunday appealed to devotees to postpone their visit to Shirdi for a few days in view of coronavirus outbreak in the country.

"As per the directives of the government, I request the devotees to postpone their visit to Shirdi for a few days," said Arun Dogre, Chief Executive Officer of Shri Sai Baba sansthan trust, Shirdi.

On Saturday, the Siddhivinayak temple located in Prabhadevi has instructed all its employees to wear masks, while hand sanitizers have been provided to everyone inside the temple.

Speaking to news agency,Siddhivinayak trust chairman , Adesh Bandekar had said, "We are providing sanitizers to all the devotees in the temple and where they stand in a queue holding the railings, are being cleaned in every 30 minutes."

Coronavirus, which originated in China's Wuhan city, has so far spread to more than 100 countries infecting over 1,20,000 people. In India, 107 persons, including foreign nationals were tested positive till March 15 at 12 pm.