Mangaluru-Moodbidri road to be made four-lane; Shiradi road to be concretized

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, April 3: A police officer in Sullia town of Dakshina Kannada district got injured on Friday after unidentified youth pelted stones at him.

The incident took place when the cop stopped them from entering into the state from Kerala in the view of nationwide lockdown. He was later administered medical aid.

Mumbai, Jun 14: Bollywood actor Sushant Singh Rajput committed suicide on Sunday, leaving all his fans and the industry in shock. While the reason behind him taking up the extreme step is still not clear, a look into Sushant’s social media feed suggests that things were not well for him for quite some time.

Sushant had been inactive on Twitter since months. His last tweet was on December 27, 2019. Since then, he did not even reply to any one on Twitter. Same is the case with his Facebook account as the last post on his timeline was on the same date. Interestingly, Sushant's Twitter cover picture is the popular painting - 'Starry Night', by Van Gogh, who had also reportedly committed suicide in 1890.

On Instagram, the young actor had last posted on June 3. It was a collage picture of him and his mother along with a cryptic caption that read, “Blurred past evaporating from teardrops Unending dreams carving an arc of smile And a fleeting life, negotiating between the two...#माँ”.

Was Sushant’s inactivity on Twitter, Facebook and his last cryptic post on Instagram a signal that the actor was having a tough time? Well, may be it will remain a mystery forever.