Watch row: Cong high command not happy with CM's explanation

February 28, 2016

New Delhi: Feb 28: Although Karnataka Chief Minister Siddaramaiah gave his version of the row over the “gift” of a luxury watch sported by him, the Congress high command is not fully satisfied that he will be able to weather the political storm generated by the episode.

watchWith new angles being added to the row by the Opposition leaders, the high command was mulling ways to contain the damage to the Congress' prospects in the remaining two years of its rule in the State.

Party sources said the high command was not happy over such rows coming to light when Congress vice-president Rahul Gandhhi had himself led a strong campaign against Prime Minister Narendra Modi for his “suit-boot” government. It was pointed out to the chief minister that if the controversy was not contained immediately, it could tell upon

Congress' campaign against the BJP in several states and at the Centre, on corruption.

The Congress high command is also unhappy that the State government's popularity was not showing an upward trend as reflected in the Zilla and Taluk panchayats polls.

Though the chief minister, during his meeting with party president Sonia Gandhi and vice-president Rahul Gandhi on Friday, defended the watch issue saying it was gifted by his friend, it was learnt that the high command wanted him to act further to prevent recurrence of such controversies.

Karnataka Congress president G Parameshwara, who had met Rahul Gandhi a couple of days before the chief minister's Delhi visit, is understood to have conveyed that the watch controversy was one of the main reasons for the party's average performance in the recently held elections.

Despite the chief minister claiming that he had delivered a good administration in the past three years, many state leaders had told the high command that the latest controversy had only sullied the State government's image.

A section of party leaders who are upset with the chief minister, are of the view that, as part of damage-controlling measures, “urgent corrective steps” are reuqired to be taken. But the party high command is not clear as yet as to what steps should be taken, sources said.

Not Cong culture'

Senior party leader B K Hari Prasad on Friday also criticised the chief minister over the watch row and said wearing luxury watches is not Congress culture. Attacking Chief Minister Siddaramaiah for poor performance in the recently held Assembly by-poll and zilla and taluk panchayats polls, the party national general secretary also said it was a strategic blunder committed by the chief minister.

Criticising the chief minister's style of functioning, Hari Prasad said, “The chief minister has not adapted to Congress culture. He should not ignore old Congress leaders.”

Comments

Mani
 - 
Sunday, 28 Feb 2016

Congress is not happy because ...Siddu is different than the rest . as he delivered Good governance ...

Congress will be happy if Babies killed in Muzaffarnagar...is happy if Muslim called anti national....is happy when Afzal guru hanged ...is happy when introducing UAPA which is almost used against Muslims

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News Network
January 16,2020

Bengaluru, Jan 16: Former chief minister Siddaramaiah and other leaders are likely to make the final decision on the name of the next Congress president of Karnataka soon, said party leader Dinesh Gundu Rao on Thursday.

"He (Siddaramaiah) has met all the leaders and I think soon they will make a decision. It has already been delayed, it should not have been delayed so much. I am sure high command will take a decision on this," Rao told reporters here.

Both Siddaramaiah and Gundu Rao had resigned from their posts, Leader of Congress Legislature Party and KPCC president, after the party's drubbing in the bye-elections held for 15 Assembly seats last year.

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News Network
May 21,2020

Bengaluru, May 21: The prestigious Bengaluru Tech Summit (BTS) on Wednesday been postponed to November 19 to 21 2020 in view of the prevailing conditions.

A decision to this effect was taken at a meeting chaired by Deputy Chief Minister C S Ashwathnarayan, who is also the Minister for IT/BT, here.

Originally, the BTS was scheduled for September 21-23 this year. However, owing to anticipated inability of international delegates to attend the summit in view of Covid-19, BTS has been postponed, informed Dr Ashwathnarayan.

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News Network
June 6,2020

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.

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