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.
Comments
If we Muslims bow down , We bow down to only the lord of the worlds, a creator who created U, me and all that exists.
We must bow down in humility to Almighty God only, not his creation which is man made.
Physically we should bow down somewhere, and naturally to some direction. If we were to do it right now, we would be bowing towards a random direction. our physical presence on earth forces this upon us as a prostrating Believer to GOD almighty, whether you like it or not.
The bowing down to God Almighty in the direction of the KAABA or the city of Mecca in general is a way to UNIFY all MUSLIMS to bow down to God Almighty, as one body and one unity, towards ONE DIRECTION & towards the mosque.
As to WORSHIPING the cubic black bldg. the Kaaba, We absolutely DO NOT WORSHIP IT.
I will repeat what aharkul mentioned : Umar RA came near the black stone and kissed it and said \ NO doubt, I know that YOU are a STONE and Can neither Benefit anyone NOR Harm anyone. Had i not seen ALLAH's apostel (Prophet Muhammed pbuh) kissing you, I would not have kissed YOU.
While there are traditions about kissing or touching the stone, its real significance is a MARKER of the point at which one starts the tawaaf (Circumambulation) .. A stone is just a stone."
Mr. Nothing But True, Listen Why Muslim Kissing the black stone in KAABHA because our Great Prophet (S.A) kissed the black stone which is braught from Heavan by Angels. Becuase of this only all Muslim Brother's and Sisters kissing Black Stone of Kaabha following the sunnah of Our Prophet (S.A.) Nothing Else.
Umer (R.A) before kissing the black stone said that there is no any special with you . I am kissing because our prophet (S.A.) kissed you. So Everyone should worship one god and not the creation.
Mr. Reality..you look like \Shishlya\" of Mr. Zoker Naik..before preaching others about Creator and Creation, why can't you apply this principle to yourself? WHY ARE YOU KNEELING TOWARDS AND KISSING \"THE BLACK STONE\" IN KAABA? Please throw the stone to Garbage..."
NA TASYA PRATIMA ASTI... There is no image of God
Bhagwad Geeta says in Chapter 7 Verse 20.
Those whose intelligence has been STOLEN by MATERIAL desires WORSHIP demigods besides the TRUE GOD.
It is mentioned in chandogya upanishad, Propathaka chapter 6, Khanda seciton 2, Shloka
EKAM EVADITIYAM : He is ONE only without a second.
Then Y are worshiping idols and different man made creative gods which cannot help themselves.. How can you guys not using your intellect when your OWN SCRIPTURES says not to DO SO>>>
Its HIgh time hindu brothers should know the REALITY and consequences it will take when we ignore the CREATOR and worship the CREATION.
WORSHIP THE CREATOR NOT HIS CREATION.
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