Bengaluru's first female rowdy-sheeter Muniyamma is now Sri Rama Sene women’s unit chief

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, Jan 18: The Muslim Central Committee of Dakshina Kannada and Udupi has claimed that around 3 lakh people had gathered at Shah Gardan, Adyar-Kannur in Mangaluru on January 15, even though their expectation was just 1 lakh people.

The protest against CAA, NPR, NRC and police atrocities against minorities was jointly being organised by the various Muslim organisations of twin district under the leadership of Muslim Central Committee.

“We had just expected around 1 lakh people. But the Mangaluru witnessed the largest gathering in its history on Jan 15. Around 3 lakh people had participated in the protest,” Ibrahim Kodichail, vice president of the committee told media persons today.

K S Mohammed Masood, president of the committee, added that the event was a grand success and fretful, besides being peaceful. He wholeheartedly thanked all those who strived hard to make the protest a great success and to those who had taken part in it.

“At least 28 organisations have come together. As a result 3 lakh people assembled. I thank all those organisations,” he said.

He also opined that police too had helped to maintain law and order and cooperated with the protesters at the venue.

SM Rasheed Haji, B M Mumtaz Ali, Syed Ahmed Basha Thangal, Kasim Ahmed H K and Mansoor Ahmed Azad were present at the press meet among others.

Bengaluru, May 15: Karnataka Chief Minister BS Yediyurappa on Friday said that the new amendment in the Agricultural Produce Marketing Committee (APMC) Act will substantially aid the farmers in getting remunerative price for their produce.

"Our motto is 'First Farmers'. The new amendment in the APMC Act will provide an opportunity for farmers to sell their produce directly to any purchase outside APMC or in other APMCs. This will help the farmers in getting remunerative price for their produce," CM Yediyurappa tweeted.

"Amendment will not dilute the powers of the work of the APMCs. All these marketing activities will be monitored by the Directorate of State APMC. This new amendment Act will benefit farmers in improving their income & suffering from losses due to market fluctuations," the Karnataka CM added.

Yediyurappa further said that the amendment will indirectly help farmers in doubling their income by 2022.

"This amendment will indirectly help farmers in doubling their income by 2022. I want to clarify that we have not removed the APMC Act, we are only amending 2 sections of the APMC Act which enable farmers to sell their produce at the markets where they intend to," he tweeted.