Gang war in Mangaluru jail; 4 cops, 10 inmates injured

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.

Bengaluru, May 18: Karnataka education minister S Suresh Kumar on Monday announced the SSLC examination dates. Earlier, Karnataka SSLC examinations were to be held between March 27 and April 9, 2020, but had to be postponed due to the outbreak of Covid-19 pandemic and the subsequent lockdown.

The minister announced that Karnataka Secondary Education Examination Board (KSEEB) will conduct SSLC examination between June 25 to July 4 and the PUC exam for English paper will be held on June, 18, 2020.

"Examinations for Secondary School Leaving Certificate (SSLC) will be conducted between June 25 and July 4 in Karnataka. Exams for English paper of Pre-University Course (PUC) will he held on June 18: Karnataka Education Minister S Suresh Kumar," ANI tweeted.

The minister for primary and secondary education had held a meeting with the department officials to discuss the feasibility of conducting the exam.

Modalities of conducting the examination in the current situation of the COVID 19 pandemic while taking care of interests of students is of paramount importance, S Suresh Kumar said adding these issues have been kept in mind while finalising the schedule.

With inter-state and inter-district mobility a major issue with public transport not available and also due to 14-day institutional quarantine norms, the minister had told TOI that an idea has been introduced to allow students appear for the examination in the district where they presently are than at their designated examination centre.

Belagavi, Mar 7: Karnataka Urban Development Minister B A Basavaraj on Saturday said that government would a take decision very soon regarding conducting city corporations election in the state.

Speaking with the media after review meeting at Belagavi city corporation (BCC) here he further said that delimitation exercise of the wards has to be done followed by reservations.

The minister stated that discussions would be held with Chief Minister B S Yediyurappa and would arrive at a decision to conduct the election in about a month’s time.