Case against Priya Varrier's film's director for hurting religious sentiments

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 9: A forest guard was arrested caught red-hand by Anti-Corruption Bureau (ACB) officials while accepting Rs 3,000 bribe from a person for granting permission to cut Mahogany trees for his personal use, a statement said on Thursday.

According to the statement, the arrested identified as N Sudheer sought bribe of Rs 15,000 from Gopalakrishna Herale, a resident of Beltangady.

Mr Herale, in a complaint, lodged on January 7 said that he had sought a permit from the forest department for cutting of Mahogany trees purchased by him.

Mangaluru, Jan 23: The Muslim Central Committee of Dakshina Kannada and Udupi and Humanity Forum of Mangaluru today handed over a cheque of Rs 10 lakh to the aggrieved family of Naushin, who was killed in arbitrary police firing on December 19 in the city.

A team of philanthropists led by Muslim Central Committee chairman K S Mohammad Masood visited Shaheed Nausheen’s house at Kudroli and handed over the cheque. Several philanthropists have contributed to this humanitarian aid.

Corporator Shamsuddin Kudroli, S M Rasheed Haji, Mansoor Ahmed Azad, Ibrahim Kodichal, Haneef Haji, Asif Deals and Ashraf Kinara were present among others.