Cong extends Karnataka poll campaign to Saudi Arabia; leaders reach out to NRIs

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.

Kuwait: State of Karnataka is enriched with Daasa culture, which had contributed immensely to its literature, culture, art & philosophy. Daasa tradition in Karnataka was part of the Bhakti movement which flourished from around 15th century and it extended considerable spiritual influence over the masses. Kuwait Kannada Koota, a socio-cultural association for the people of Karnataka in Kuwait, organized its annual Daasotsava on 14th February 2020 in remembrance of these saints, thereby displaying the rich cultural heritage of the state. 

The program started with a warm welcome address by Mrs. Spoorthy Kamath, convener of cultural committee. Divine invocation prayer by Mrs. Vasantha Ashok and Mrs. Sandhya Arun set the trend for the event. This was followed by lighting of the traditional lamp by the 2020 executive committee, comprising of President Mr. Rajesh Vittal, Vice President Mr. Sandeep Chabba, General Secretary Mr. Praveen Kumar Shetty and Treasurer Mr. Pradeep Rao. President, while welcoming the gathering, spoke about the importance of Daasas in Kannada literature & history and briefed about the series of upcoming programs. Cultural programs started with fancy dress competition by Koota children comprising of all age group starting from infants to elder kids. This program stole the show as the efforts & time invested by children and their parents were clearly visible. 

2019 executive committee was felicitated by the current committee for wonderfully managing Koota affairs & programs. This was followed by the release of Koota magazine “Marala Mallige", comprising of informative articles, drawings, poems etc., entirely contributed by the association members. Event’s main attraction “Vrindavana Leelavarana", a colorful dance drama spectacularly portrayed by 54 Koota children, was very well appreciated & received by the attendees. Association children who successfully completed 10th and 12th were felicitated as a token of encouragement. Executive committee gave away prizes to Kids who excelled in the stage competitions held earlier. Audience was treated to a divine and melodious Bhajan program conducted astutely by the ladies & men. Koota women performed Bhajan Kolata, along with ladies bhajan, in a well-coordinated manner. Vote of thanks was proposed by the secretary of Koota, thanking those who contributed for the success of the event. Another attraction was a quiz competition “Rasa Prashne", conducted efficiently between the programs, by Mr. Mahesh Shiramgond. 

The whole event was planned and executed astutely by the cultural committee under the leadership of Convener, Mrs. Spoorthy Kamath. Public Relations Committee, led by Mrs. Suparna Dambal, welcomed the members in a vibrant & colorful way, showcasing a beautifully erected divine mantap. The event was sponsored by Unimoni, LIC HFL, VSPL, Geetherb, Kotak Life Insurance, Joy Alukkas, Lulu Hypermarket & Total Environment. The program ended with a sumptuous satvik lunch, sponsored by the senior Koota member, Mr. Ramachandran Seetharaman.

Bengaluru, Jun 24: Karnataka Minister of Medical Education Dr K Sudhakar said on Tuesday that the directors of institutions will be held responsible if any there are any complaints and lack of facilities in the treatment of COVID-19 patients.

'Since a couple of days, there are reports in media regarding the admission of COVID-19 patients, lack of hygiene and the supply of sub-standard food to patients. The country is appreciating Karnataka and Bengaluru for controlling the spread of coronavirus. This was possible due to tireless efforts from past several months and these kinds of reports emerging now cannot be tolerated," Sudhakar said.

He added, "There can be no compromise in the treatment of COVID-19 patients. It must be ensured that these kinds of complaints will not be repeated. Directors of hospitals will be held responsible if there are complaints."

The medical education minister further said that asymptomatic patients will be kept in COVID-Care Centres and if they develop symptoms in the care centres, they will be shifted to hospitals for further treatment.

"Since the COVID-19 cases are increasing, private hospitals have been roped in to treat coronavirus patients. Officials have to ensure that beds are reserved and all arrangements are made as per the government order. Guidelines will soon be issued for monitoring asymptomatic cases in COVID care centres," he added.

Karnataka on Tuesday reported 322 fresh COVID-19 positive cases and eight deaths.
According to the state health department, the total number of positive cases has mounted to 9,721 and 150 deaths. So far, 6,004 people have been discharged.