ED attaches properties worth Rs 10.2-cr in ICICI Bank staff fraud case

News Network
March 29, 2019

Bengaluru, Mar 29: Enforcement Directorate (ED) has attached movable and immovable properties worth Rs 10.20 crores in a fraud case involving ICICI Bank employee Vijayasarathi in the ICICI Bank, Vijayapura branch, Karnataka.

Investigation under Prevention of Money Laundering Act, 2002 (PMLA) was initiated on the basis of FIRs and subsequent charge sheet filed by CID, Karnataka, according to a release here on Friday.

In the charge-sheet it was alleged in the charge sheet that Vijayasarathi, Sachin Annappa Patil and other employees of the ICICI Bank, Vijayapura indulged in the crime by using the cancelled cheques, unused cheques, through fraudulent transfers, issuing fake Fixed Deposit receipts, not crediting the cash which was receipt for credit in the Bank accounts of ICICI Bank, BDCC Bank, Siddeshwara Co-operative Bank, etc and siphoned off/misappropriated amount to the tune of Rs 70.44 crores. Thus, wrongful loss to the tune of Rs 70.44 crores was caused to the ICICI Bank. The fraud could not be detected by the Risk Control Unit of the ICICI Bank.

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News Network
March 24,2020

Mangaluru, Mar 24: Seven people were arrested on Tuesday for violating prohibitory orders imposed under Section 144 of CrPC in Mangaluru during the lockdown in Karnataka, Commissioner of Police PS Harsha said.

Chief Minister BS Yediyurappa on Monday had announced a complete lockdown in the state till April 1.
"In the wake of the coronavirus outbreak, the entire state will be locked down from 12 am of March 23 to April 1. People are requested to strictly follow it to contain the coronavirus spread," he said.
Earlier, the state government had ordered the suspending of all public and private transport services.
According to the data compiled by the Indian Council of Medical Research (ICMR), the total number of the infection-related death toll in the country rose to nine on Tuesday, while the total number of active cases reached 482.

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News Network
August 1,2020

Gadag, Aug 1: A woman in Gadag district of Karnataka mortgaged her 'mangalsutra' to buy a television set for her children following the Karnataka government's decision to continue the classes through TV amid the COVID-19 pandemic.

A resident of Radder Naganur village, Kasturi, who is also a mother of two, purchased a television set against her 'mangalsutra' for Rs 14,000. She bought the TV after her children's school teachers asked them to attend classes via the television set.

Kasturi said, "I can not send the children to the neighbours' house every day and it was necessary for them to study. We had no other option but to buy a TV set."

She said, "Both, my husband and I are daily wage workers and during coronavirus, we do not have work or money."

"I sold my 'mangalsutra' for Rs 20,000 and bought a TV for Rs 14,000," said Kasturi while happily adding, "Now, my kids can study at home itself."

Kasturi's daughter, Surekha said, "We did not have the TV for several months but now when we have it, we will study and get a bigger 'mangalsutra' for my mother."

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News Network
May 17,2020

Bengaluru, May 17: Karnataka Deputy Chief Minister and Transport Minister Laxman Savadi on Sunday wrote to Union Minister Nitin Gadkari requesting to issue new lockdown guidelines including permission to operate public transport and said the lockdown has caused a financial loss of Rs 16,00 crore to all four Karnataka Transport Undertakings.

In view of these problems, the state Transport Minister requested Gadkari to permit the deployment of Non-AC buses on scheduled routes to ensure the adequacy of services.

The four State Transport Undertakings (STUs) in Karnataka which are providing bus-based public transport services within the state and to the neighbouring states are Karnataka State Road Transport Corporation (KSRTC), North West Karnataka Road Transport Corporation (NWKRTC), North Eastern Karnataka Road Transport Corporation (NEKRTC) and Bangalore Metropolitan Transport Corporation (BMTC).

"KSRTC, NWKRTC and NEKRTC operate buses for mofussil services i.e. Interdistrict, intradistrict and interstate, whereas BMTC operates only in urban and suburban areas in the city of Bengaluru. The four STUs put together hold a fleet of about 24,900 buses including 1,520 air-conditioned buses and operate about 71.00 lakh km. per day and carries about 98.00 lakh passengers every single day," Savadi outlined in the letter.

The Minister said due to the COVID-19 outbreak and the lockdown that ensued have brought regular bus operations and functioning to a grinding halt.

"This has caused a devastating impact on the operations of all the four STUs due to the combination of lack of revenue and continuing fixed costs such as salaries and pensions to staff, payables against existing loans etc. It has been estimated that the lockdown has caused a financial loss of INR 1,600/- crore to these four STUs," he added.

Savadi said even after post-COVID lockdown, operations and revenues won't reach its previous demand& supply patterns in the next six to eight months due to reduced economic activity and users' perceived risk of contacting COVID in public transport.

In addition to that, "occupancy should be allowed up to seating capacity (without standees). This is essential to meet minimal demand," he said in the letter.

"The crew should wear facemask and hand gloves. The crew with health issues should not be deployed. The face masks should be made mandatory for all the passengers. Only asymptomatic persons should be allowed to travel in public transport. The Government of India may consider staggering working hours for various sectors to reduce peak hour traffic demand," the minister listed out these recommendations in the letter.

Savadi said that with social distancing norm of reduced seating capacity in public transport, it will not be possible to provide transport facility to all the daily passengers. This will create demand for more buses, which cannot be met.

"Restrictions on public transport will lead to passenger commute by overcrowding in smaller vehicles like cars, maxi cabs, goods tempos etc. which will adversely affect preventive measures," he added.

Therefore, Savadi requested Union Minister to look into the above matter and issue fresh guidelines to all the states / UT's.

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