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

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, May 24:The first 'Sunday curfew' imposed by the Karnataka government to try and contain the spread of COVID-19 got underway in the state today, with people by and large adhering to norms, roads wearing a deserted look and almost no vehicular traffic, barring essential services.

With barricades being up across most roads in the state, people ventured out only to purchase groceries, vegetabes and medicines.

Instances of violation of Sunday curfew lockdown norms were reported in COVID-19 hotspots of Shivajinagar and Rayapura in Bengaluru and Nelamangala and Devanahalli.

Temples, malls, bars, eateries and small food joints remained shut throughout state.

In most parts of the state buses, autorickshaws and cabs did not ply.

In Bengaluru, the ever bustling Majestic area, which houses the central city bus stand, inter-city bus stand, Metro Railway Station and the City Railway Station, did not see any activity as buses did not ply and all shops were shut, police said.

Reports from Mysuru, Tumakuru, Kolar, Mangaluru, Udupi and other towns across the state said there were no lockdown violations.

Amid the rigid curfew marriages were conducted in a simple manner in various parts of the state like Gollarahatti and Yashwanthapura in Bengaluru and also in Davangere.

Families of the brides and grooms invited only a few people for the event, adhered to social distancing norms and wore masks.

In Gollarahatti, the event organisers cleaned the road, after which the invitees, who were hardly 25 to 30 in number, sat down to have a feast.

The Karnataka government had eased restrictions during Lockdown 4 for start of economic activities like city buses, inter-district bus service, intrastate train services, opening of shops and markets.

However, the government had made it clear that there will be 'Janata Curfew' every Sunday during which only essential services would be permitted.

Mangaluru, Jan 4 The International Kite Festival, will be the main attraction of the Karavali Utsav being held here from January 10-19.

Deputy Commissioner Sindhu Roopesh said on Saturday that a variety of cultural programmes are scheduled on the occasion of Karavali Utsav being organized by the DK District Administration at the Karavali Utsav grounds, Kadri Park and Panambur Beach.

Cultural programmes will be presented by budding local artistes of State, National and International fame. All facilities for the cultural programmes will be set up at the Kadri park and Karavali Utsav grounds.

The programme will begin with a cultural procession from Nehru Maidan on 10 January followed by the Inauguration at the Karavali Utsav grounds.