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
Peja,
Please explain to your followers that NA TASYA PRATIMA ASTI means there is no image of GOD and U guys are fooled to worship lifeless stones and objects just to be a part of fire...
God says there is only one God and U should worship this one God... and not associate partners with him...
Look for the TRUE GOD , If U are honest U will find him otherwise people like peja will deceive U in your whole life to worship the lifeless objects which will not benefit nor harm anybody.
33 crores plus one
Datta Peetha for Hindus, Kanakana Kindi at Sri Krishna Matta for Harijans. Are you ready Swamiji?????
99% of Hindus are not behind and interested in Ram temple and datta peeta but Bajrangies.....this terrorist groups should be given a lesson by the government.....
Shri Dattatreya was both god and guru for Hindus.
I do not understand the above sentence. Its looks funny while reading because how people accept every creations of god as GOD???
Worship the creator and not his creations.
What is dutta peeta? what about ram temple...is it closed chapter?
Bajrangies should understand that the both places are Muslims property...cannot take a centimeter from it....
It proved that he is the swamy for goons and criminals.
Hey cheater pejawara...
This land doesnot belong to your father, mind it and mind your own business....
Wonderful argument by Great Swamiji, any way, definitely that \DATTA PEETA\" belongs to Hindustanis, but not Criminal Goonda Looters, Swamiji looking and Listening you are Thinking These before Chaddi Now Lungi Cheating Looting for Gangasara, leave their Gangasara business to Master Charan. swamiji see all belongs to Hindustanis why are you simply listening some criminal goonds says for their benefit nothing else you great swamiji these goonda political looters are doing good for our great Nation!!!!!!!!! never and ever swamiji all are Self contribution only not for religion not for nation.
Hindustan Jindabad.."
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