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.
Comments
They broken their Pitha's Leg!!!!????
Merciless goons, Terrorists.
A day will come when this horse will do the same to U over & over... it might be wierd but in the court of ALLAH (one who gave this life to this MLA & the horse)... it can take the revenge.
what is the use of putting him in jail. he might be there for few days in jail with royal treatment. and once he come out from the jail i am sure he will get good post in party.
When BJP saffron goons cannot spare a animal, how can they spare Muslims. The act of atrocities are in their DNA.
Down Down Ganesh Joshi.
Poor Horse. Cruel People.. Where is our Madam Menaka Ghandi...Lets see what action she will take on him.
These Goons are worst than animal... How come our people who support them doesnot UNDERSTAND their evil acts.
PLEASE BREAK MLA,S LEG PLEASE.. ,
IF HE WAS IN FRONT OF MY EYES I WOULD HAVE SLAPPED HIM FOR SURE .. NO HUMANITY.. WHAT TYPE OF MLA HE IS.. KICK OUT OF INDIA.. IF U SEE THE LEG OF HORSE ,,, REALY... PUT HIM IN JAIL.
wht the hell! then I think his leg should also be broken with a stick. then he will come to know about the pain
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