Vishweshwar Bhat begins new innings as Editor of Kannada Prabha

Mangaluru, Jun 12: A huge crowd gathered for the grand opening of the newly built 175-metre-long two-lane bridge across Phalguni River on National Highway 169 near Gurupura on the outskirts of the city today.

Even as the photos of the bridge inauguration ceremony went viral on social media, netizens took the elected representatives and the district administration to task for flouting safety norms at a time when the coronavirus cases are continuing to mount in coastal Karnataka.

The bridge was completed in a record time of 15 months. Dakshina Kannada MP and State BJP President Nalin Kumar Kateel and district in-charge Minister Kota Srinivas Poojari inaugurated the bridge in the presence of Mangaluru City North MLA Y. Bharath Shetty and others.

The bridge has come as a breather to thousands of travellers between Mangaluru-Moodbidri-Karkala on the busy NH. The age-old steel bridge had become dilapidated and was a cause for concern for road users. The highway is also under the process of getting widened to four lanes.

The bridge was constructed at an estimated cost of Rs 30 crore by contractor Sudhakar Shetty of Mugrodi Construction. Work started in February last and the contractor had time till February next.

While the two-lane carriageway is 16 metres wide, the bridge has 2.5-metre-wide pedestrian paths on both the sides. New approach roads of 500 metres each were also part of the project.

Chikkamagaluru, Jun 13: Deputy Commissioner Dr Bagadi Gautham said that movement of heavy vehicles has been banned from Tanikodi to S K Border on NH 169 (Mangaluru to Solapur) from June 15 to August 15.

In an official statement issued here on Friday evening, he said that due to heavy rain lashing in the District the minor bridges on the stretch at Umbalagere, Goravanahalli and Gulaganji are in a dilapidated condition. As a precautionary measure, the movement of heavy vehicles has been banned.

As an alternative, all the vehicles (below 15 tonnes) from Chikmagalur can travel via Baliho Nur-Magundi-Kalasa-Kudremukh-SK Border. The vehicles from NR Pura (below 15 tonnes) should travel via Koppa-Hariharapura-Bidaragodu-Agumbe.

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.