Time for movement to fight divisive forces: Siddaramiah

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, Feb 27: Chief minister BS Yediyurappa has again kindled hope for several ministerial aspirants by suggesting he will expand his council of ministers in April. A dozen senior BJP legislators are aspiring for ministerial berths, but there are only six vacancies in Yediyurappa’s cabinet.

However, Yediyurappa suggested on Tuesday he will fill only three spots, one of which would go to Hukkeri legislator Umesh Katti. With this, lobbying has intensified for the two remaining berths as the expansion exercise is expected soon after the budget session that ends on March 29.

The aspirants include Murugesh Nirani, S Angara, Appachhu Ranjan, SA Ramdas, Aravind Limbavali, Narasimha Nayak and GH Thippareddy besides others.

Yediyurappa, it is being said, is keen on inducting Katti and Limbavali since they are close to him. He will leave the decision on choosing legislators for the remaining two berths to the party’s central leadership.

On more than one occasion in the past, Yediyurappa has publicly stated that his wish is to induct Katti, a former minister, into the cabinet. In fact, the CM had wanted to induct Katti in the previous expansion that took place last month, but dropped the idea at the last minute due to pressure from party bosses.

The CM is also under pressure to induct Athani legislator Mahesh Kumatalli, who was among 17 Congress-JD(S) MLAs who resigned to help the saffron party form the government. Several BJP MLAs and Lingayat seers have been piling pressure on Yediyurappa to make Kumatalli a minister as promised.

Kumatalli was denied a cabinet berth only to accommodate Katti. Both are Lingayats and from Belagavi district. As the Lingayat community already has a lion’s share in cabinet berths, the CM cannot afford to induct both.

Nirani, who has been leaving no stone unturned to secure a spot, reiterated his wish to become minister, but insisted he will not lobby for the post.

Yediyurappa has been upset with Nirani for lobbying for a berth through Panchamasali Mutt seer Vachananand Swami. The former minister was also part of the team of alleged disgruntled MLAs which met Jagadish Shettar at his residence to put pressure on the CM for cabinet berths.

However, while expressing confidence of being made minister when Yediyurappa’s expands his cabinet next, Nirani said, “Yediyurappa is not upset with me. My relationship with him is that of father and son. He knows me and what I am.”

Bidar, Feb 15: Leader of the Opposition in the Assembly Siddaramaiah on Friday demanded the State government to withdraw the sedition case against a mother and a teacher of Shaheen school immediately.

“The police can’t execute anything without the government’s permission. The sedition case against two women should be withdrawn immediately. I will raise the matter in the Assembly to draw the government’s attention,” Siddaramaiah told reporters after meeting the woman at the prison here. 

He clarified that he visited the woman not to support the school, but to extend moral support to her.

“I am an advocate and I can clearly establish based on my experience that staging a satirical play doesn’t amount for sedition. It doesn’t even defame anybody. Three cases of sedition have been registered across the state,” he charged.

He alleged that the government was following dual policy. Though the Supreme Court had concluded that the demolition of Babri Masjid was illegal, a play dealing with the demolition was staged at Kalladka Prabhakar Bhat’s school.
The sedition case had not been registered for staging the play.

He charged that there was an undeclared emergency in the country as the freedom of expression was being suppressed.