Mangaluru: NRI who came from Saudi to celebrate Christmas with family dies in car mishap

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, Jun 12: All the four candidates, including former prime minister H D Deve Gowda (JDS), and senior Congress leader Mallikarjna Kharge, on Friday were declared elected unopposed to the Rajya Sabha from Karnataka.

Karnataka Assembly Secretary sources here said that all the four candidates, who were in the fray for as many berths, were elected after the last date of withdrawal of candidature ended on Friday.

Bhatkal, May 9: A day after 12 covid-19 positive cases reported from Bhatkal, seven more tested positive for the coronavirus in the town today. 

The new patients are: a six-month-old baby, a two-and-a half-year-old child, two girls aged 17 and 23, a 50-year-old woman and two elderly men aged 65 and 68 years.

The source of all these cases is said to be the First Neuro hospital located at Padil in Mangaluru where a covid-19 patient from Bantwal had undergone treatment a month ago. Around 20 days ago an 18-year-old girl from Bhatkal, who had been to the same hospital was tested positive for the covid-19. 

After the confirmation of 12 covid-19 positive cases yesterday, the throat swab of 60 people, who were in contact with them were sent for testing. Among them seven people – six relatives and a friend – were tested positive today.

Also Read: 12 new covid-19 positive cases in Bhatkal