Karnataka govt forms panel to rejuvenate 17 polluted river stretches

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.

Mangaluru, Jun 25: Teacher-turned-serial rapist-cum-killer Cyanide Mohan Kumar was sentenced to life imprisonment in the 20th and final case by Sixth Additional District and Sessions Judge Sayeedunnisa on Wednesday.

Cyanide Mohan Kumar (57) was declared guilty in the 20th rape and murder case on Saturday and the judge had pronounced the order before a small group of advocates in the court hall. Cyanide Mohan who appeared in the court hall via video conferencing facility from Hindalga central jail in Belagavi did not show any emotions.

The 25-year-old victim from Kasaragod was working as a cook in a hostel and met Mohan, serving as a teacher in 2009. He had met her at her home on many occasions and had promised to marry her.

On July 8, 2009, she left home on the pretext of visiting a temple in Sullia and

did not return. When her family tried to reach her on phone, Cyanide Mohan had told they were married and would return home soon.

Mohan took her to a toilet in a bus stand in Bengaluru on July 15, 2009, and had left with her jewels after ascertaining that she had died by consuming Cyanide. No sooner Mohan was arrested in October 2009, the family of the victim had recognised him from the newspapers. The police also recovered the victim’s jewellery from the house of Mohan’s second wife.

Sixth Additional District and Session Court convicted Mohan under sections of IPC 302 for murder with life sentence and Rs 25,000 fine, IPC 366 for kidnapping with ten years of rigorous imprisonment and Rs 5000 fine, IPC 376 for rape with seven years of rigorous imprisonment and Rs 5000 fine, IPC 328 for poisoning with ten years of imprisonment, IPC 394 for causing hurt while robbing with 10 years of imprisonment and Rs 5000 fine, IPC 392 for theft with five years of imprisonment, IPC 201 for destroying evidence with seven years of rigorous imprisonment and Rs 5000 fine, IPC 417 cheating and one year of imprisonment.

Bengaluru, Jul 22: Yellow alert has been issued for Karnataka's Shivamogga, Chikmagalur, Hassan, and Kodagu for July 23 and 24.

Some areas of Bengaluru may receive light rainfall today, said CS Patil, Director, IMD Centre, Bengaluru.

He added that coastal areas of the state are very likely to experience rainfall from on July 23 and July 24, and that rainfall may increase July 24 onwards. Widespread rainfall is predicted for July 24th, 25th, and 26th.