Private sector lender Karnataka Bank has reported to the RBI that it has been defrauded of more than ₹285 crore consequent to loans to four entities, including DHFL, gone bad.
A total of ₹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.
The maximum is owed by DHFL at ₹180.13 crore, followed by Religare Finvest ₹43.44 crore, Fedders Electric ₹41.30 crore and Leel Electricals ₹20.65 crore, the bank said.
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