Bengaluru, Apr 10: After Bharatiya Janata Party appointed former chief minister BS Yeddyurappa as its chief in Karnataka state, the Congress has intensified hunt for a powerful counterpart. The KPCC president G Parameshwara, who has completed the five-year term, has been continuing in the post even after being inducted into the State Cabinet as Home Minister.
With the Congress high command busy drawing up strategies for the ongoing Assembly elections in five States, the Karnataka unit may have to wait at least till the declaration of poll results for the new captain to take on the mantle of the party.
While several leaders have been eyeing the key post, the names of a few belonging to the dominant Vokkaliga and Lingayat communities are doing the rounds. Energy Minister D.K. Shivakumar, a Vokkaliga, who is presently campaigning along with party president Sonia Gandhi in Assam, is the front runner for the post. Mr. Shivakumar was the working president of the party when R.V. Deshpande was the KPCC president during 2008-10.
Sources said the high command may support the candidature of Mr. Shivakumar, who is also the fundraiser for the party. A sixth-time MLA, Mr. Shivakumar is also one of the popular leaders among the masses, particularly in the Vokkaliga belt of the old Mysuru region. Moreover, he has the blessing of senior leaders such as S.M. Krishna.
Among the Lingayat leaders, the names of Water Resources Minister M.B. Patil, IT/BT Minister S.R. Patil, and MLA Appaji Nadagouda are doing the rounds, in the backdrop of reports that the high command was keen on having a new party chief from either of the two dominant communities. As the BJP has appointed Lingayat strongman Mr. Yeddyurappa, the Congress may prefer a leader from the Vokkaliga community, said a party insider.
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DK Shivakumar is now front runner for Karnataka Cong chief post
Karnataka Bank reports over Rs 285-cr fraud in four loan accounts
News Network
June 6,2020
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.
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Karnataka govt mulls law to help investors sell off their unused land
News Network
January 28,2020
Bengaluru, Jan 28: The state government is set to allow investors who bought farmland for industrial and other purposes to sell it off if they fail to use it within seven years. The new buyers, however, must utilise the land parcel for the same purpose for which it was allotted.
An amendment bill in this regard will be tabled during the joint session of the assembly, which begins on February 17.
Currently, investors remain tied to unused parcels. Law and parliamentary affairs minister JC Madhuswamy said the amendment to Section 109 of the Karnataka Land Reforms Act, which deals with the purchase of farmland for non-agricultural purposes, would remove hurdles for disposal of such plots. “To prevent misuse of land, the bill makes it mandatory for the new buyer to utilise it for the purpose for which the land was purchased by the first investor,” he said.
The government will also table a bill which seeks to regulate the affairs of religious and educational trusts. It will empower the government to intervene in the affairs of the trusts when irregularities come to light.
“Currently, the government has no role to play when allegations of irregularities and mismanagement crop up against trustees. The bill seeks to address this,” Madhuswamy said. He clarified the government didn’t want to interfere in trusts’ affairs. But some issues, he added, were of concern: trustees illegally selling off the trust property.
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Not interested in going to Rajya Sabha; will strengthen JD(S) in Karnataka: Deve Gowda
News Network
January 12,2020
Bengaluru, Jan 12: Janata Dal (Secular) chief and former prime minister H D Deve Gowda on Sunday refuted reports of him contesting in the Rajya Sabha elections and added that he is more concerned about strengthening his party in Karnataka.
"I am not interested in going to Rajya Sabha. My concern is to build and strengthen the party in the region to the best of my ability. I had declared earlier that I will not contest elections anymore," Deve Gowda told ANI here.
"My party MP D Kupendra Reddy is there in the Rajya Sabha as of now and further decisions will be taken by the party. In March 2019, towards the end of the 16th Lok Sabha I had declared that I will not contest any more elections," Deve Gowda added.
Four Rajya Sabha seats in Karnataka are about to fall vacant in June this year as two of Congress, one of BJP and JD(S) MPs retire.
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Don't give chance to any corrupt leaders Congress will lose thier image and status in strong hold Karnataka.
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