Rebel Congress MLA, who was declared JD(S) candidate for assembly polls, joins BJP

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, Apr 24: Karnataka Chief Minister BS Yediyurappa on Thursday held a meeting with state officials to address the situation in the wake of COVID-19 pandemic.

Due to COVID-19, the prices of the crops have come down. It was instructed to buy those vegetables and keep them in cold storage and then sell. It was also instructed to export fruits, vegetables which cannot be kept for a long time to other states and countries.

Wherever there is a scarcity of drinking water, it was decided to supply water immediately.
Chief Minister Yediyurappa had earlier spoken to Union Minister Sadananda Gowda and took information regarding fertilisers.

As fertilisers' demand is less in the international market, the Union minister for fertilisers said that farmers will be given fertilisers at less than the actual price.

As some of the associations/guilds have violated the lease conditions by not starting the actual work which they have got the land for in Bengaluru, they have been instructed to return the land to the government where the lease conditions have been violated.

As far as the irrigation department is concerned, much water is stored in dams. It was decided to utilise the same for the cultivation of crops and for the purpose of drinking.

As far as the education department is concerned, it was instructed to give online training to students.

With the help of state television channel Doordarshan, it has been decided to teach students about the syllabus and other activities till the reopening of school.

The KSRTC has lost hundreds of crore due to the reduction in bus services due to COVID-19. So, they were instructed to use buses to transport goods to generate revenue.

The government also decided that salary for the doctors, who are working on a contract basis against COVID-19, will be increased significantly.

Mangaluru, Feb 21: The local units of Vishva Hindu Parishad and Bajrang Dal today staged a protest in the city against Amulya Leona, who raised pro-Pakistan slogans yesterday in Bangaluru.

Amulya is the daughter of Wazi Noronha, a former leader of minority of wing of BJP in Koppa taluk of Chikkamagaluru district. He had worked in support of hardline BJP leader and Udupi-Chickmagaluru MP Shobha Karandlaje, and D N Jeevaraj, who had represented Sringeri constituency last time.

The 19-year-old B.A. student was arrested on sedition charge after she raised pro-Pakistan slogans to embarrass the organisers of a peaceful protest against the Citizenship (Amendment) Act in Bengaluru.

Demanding stringent action against Amulya, a group of activist of VHP and Bajrang Dal staged protest at Kadri Mallikatte Circle in the city. Speaking on the occasion, M B Puranik and Sharan Pumpwell demanded NIA probe into the incident.

Also Read: Amulya Leona — a Naxal or Sangh Parivar stooge?