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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.

Udupi, Apr 17: The city police on Friday caught a boy who created chaos near Aadi Udupi by throwing fake currency notes on road and fled afterwards.

This boy had thrown fake currency notes on the streets of Vadiraja Nagara near Krishna Mutt.

Few localities had collected the notes and reported this to police.

Mangaluru, Apr 26: In the wake of the fears among local people regarding the cremation of coronavirus victims, an understanding has been reached with all stakeholders that the Mangaluru city corporation's crematorium here will be the official funeral site for such cases in future.

Mangaluru South MLA D Vedavyas Kamath, who had to face stinging criticism on social media for his alleged support to local people who stopped the cremation of a COVID- 19 victim at Pachanady near here on Thursday, took an active role in finding the solution.

The body of the victim, a woman, had to be taken from Pachanady to Kaikunje during the night, delaying the funeral by hours.

Kamath visited Boloor on Saturday and sought to convince the people that cremating the bodies of coronavirus victims would not endanger their lives in any way as the guidelines of WHO and union health ministry are being strictly followed.

The crematorium at Boloor is run by the MCC and has an electric furnace and firewood pyres.

Kamath said a tacit understanding that final rites of COVID-19 patients inDakshina Kannada will be performed at Boloor has been reached at a meeting with all stakeholders.

Cremating bodies in such a controlled environment is deemed safe as per guidelines, he said.

City Mayor Diwakar, local corporator Jagadish Shetty and MCC assistant commissioner Madan Mohan took part in the meeting.

The decision was conveyed to the DK district administration.

The district administration has also launched a campaign on dead body management protocol to convince the people to ignore misinformation being spread regarding the cremation of coronavirus victims.