Karnataka govt. paves the way for recruitment of JOC lecturers'

Mangaluru, Jan 7: A ten-year-old boy who suffered severe injuries after drowning in Kadri temple pond died on Monday,

Police said that the deceased has been identified as Sandesh, resident of Athani taluk.

Sandesh drowned while taking a dip in a pond at Kadri Shree Manjunatha Temple on Sunday evening. He was immediately rushed to the hospital in the city, however, he died on Monday morning after he stopped responding to the treatment.

Mysuru, Jan 5: The ongoing pilot project on documentation of all unprotected monuments in Mysuru taluk has yielded significant results with over 100 sculptures recovered from the rural hinterland.

Launched by the Karnataka Department of Archaeology, Museums and Heritage, the project will help map and document the number of monuments in the Taluk. Based on their importance, they will be added to the protected list.

Sources in the Archaeology department said so far the team has completed mapping of monuments in two Hoblis--Varuna and Jayapura.

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.