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.
Jaipur, Jul 29: The spiritual head of Ajmer Dargah Zainul Abedin Ali Khan on Thursday said the Muslim community should present an example by protecting cows which hold religious significance for Hindus.
Comments
I am sure this Dargah chief will allow shetering cows in his Dargah to make Hindus happy. let this Muzawar also allow cows to stay in his house as guests which will definately give him lots of ad and will be famous.
Mone... Moodbidri.... What do you say about this statement from The Soofi Dargah worshiper....
If prophet is against beef....good...but why should muslims protect them????????
Dhurga is also against Islam...could you stop cheating????
Who will believe even if Muslims are protecting cows,
The trend is, if Muslim have a cow for Milking purpose, Bajrangis will attack on the pretext of cow slaughter
If Muslim is having a cow for agriculture purpose, Banjrangis will attack on the pretext of cow slaughter
Cow is not the cause, but, they just need a reason to attack Muslims,
If the Cow problem is solved, then they will come up with Bakri reason, then Murgi reason, then Machli reason, Its never ending story till RSS is alive
This program is sponsored to you by...modees sangheez.....what has the mushriq Sarah chief to say about baqarah and adhaa?.....
ohh my god this person doesnt know Prophhet SAW said there is no place for Shirk and it is Haram and this guy in his life he is done full of Shirk, Mr. Zainul you are not a right person to give any commmnts without Hadith Quote, better you Shut your mouth
there is no impotant place for dargha in islam
Hey dargaparasthi
Muslims should not protect darghas,
prophet is against darghas.
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