CBI charge sheet against Mallya likely in a month, bank officials may be included

Agencies
September 16, 2018

New Delhi, Sept 16: Many senior bank officials who had dealt with loans given to liquor baron Vijay Mallya's Kingfisher Airlines may be named as accused in a CBI charge sheet which is likely to be filed within a month, sources said.

This would be first charge sheet in the case pertaining to loans of over Rs 6000 crore given to Kingfisher by a consortium of 17 banks led by State Bank of India which alone had an exposure of Rs 1600 crore.

The agency has already filed a charge sheet against Mallya last year in connection with a separate case related to Rs 900 crore pending loan given by IDBI bank in which senior officials of the bank were allegedly involved.

The CBI had registered two cases against Mallya related to the IDBI loans in 2015 and consortium loan in 2016.

Refusing to give names of the officials, the sources said the first phase of probe into loans given by a consortium of banks is almost complete and the charge sheet may be filed within a month while keeping the investigation open.

Both serving and retired senior officials of the banks including the State Bank of India who had handled Kingfisher Airlines loans may be named as accused in the charge sheet as the agency has gathered enough evidence against them on misuse of official position, they said. 

The top brass of erstwhile Kingfisher airlines including Mallya, its CFO A Raghunathan and other former senior executives will also be named as accused in the case, they said. 

They said the agency is also looking into the role of Finance Ministry officials who could have influenced the decision of the bankers but their role is still be evaluated.

During the probe, the agency has gathered enough evidence to show that Mallya allegedly diverted the loan funds from the purpose for which they were given, they said.

The agency in its FIR has alleged that State Bank of India and its consortium banks had advanced various credit facilities to Kingfisher Airlines Limited during the period between 2005 and 2010, they said.

During 2009-10, the company failed to meet its repayment commitments to the bank from which it had availed the credit facilities and Kingfisher Airlines did not keep its account with the consortium banks regular which became NPA, the FIR states.

The consortium banks, therefore, recalled the credit facilities and also invoked corporate guarantee of UBHL and personal guarantee of Mallya, it alleged.

Mallya deliberately did not repay the amount, outstanding dues payable by Kingfisher Airlines to consortium of banks, the sources said. 

It is alleged that there was a conspiracy among group companies promoter and unknown others to cheat the lenders, they said.

SBI has an exposure of Rs 1,600 crore to the airline. Out of this, the bankers, which recalled the loan in February 2013, could recover only around Rs 1,100 crore after selling pledged shares of UB Group companies.

Other banks that have exposure to the airline include Punjab National Bank and IDBI Bank (Rs 800 crore each), Bank of India (Rs 650 crore), Bank of Baroda (Rs 550 crore), Central Bank of India (Rs 410 crore).

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Agencies
May 10,2020

New Delhi, May 10: A medium-intensity earthquake of 3.4 magnitude hit Delhi on Sunday.

According to the National Center for Seismology (NCS), the quake occurred at 1.45pm at a depth of five kilometres.

There were no immediate reports of loss of life or property.

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News Network
January 10,2020

New Delhi, Jan 10: One woman reported a rape every 15 minutes on average in India in 2018, according to government data released on Thursday, underlining its dismal reputation as one of the worst places in the world to be female.

The highly publicised gang rape and murder of a woman in a bus in New Delhi in 2012 brought tens of thousands onto the streets across India and spurred demands for action from film stars and politicians, leading to harsher punishments and new fast-track courts. But the violence has continued unabated.

Women reported almost 34,000 rapes in 2018, barely changed from the year before. Just over 85% led to charges, and 27% to convictions, according to the annual crime report released by the Ministry of Home Affairs.

Women's rights groups say crimes against women are often taken less seriously, and investigated by police lacking insensitivity.

"The country is still run by men, one (female prime minister) Indira Gandhi is not going to change things. Most judges are still men," said Lalitha Kumaramangalam, former chief of the National Commission for Women.

"There are very few forensic labs in the country, and fast-track courts have very few judges," said Kumaramangalam, a member of Prime Minister Narendra Modi's Bharatiya Janata Party (BJP).

The rape of a teenager in 2017 by former BJP state legislator Kuldeep Singh Sengar gained national attention when the accuser tried to kill herself the following year, accusing the police of inaction.

Five months before Sengar was convicted last December, the accuser's family had to be provided with security after a truck crashed into the car she was in, injuring her and killing two of her relatives.

A 2015 study by the Centre for Law & Policy Research in Bengaluru found that fast-track courts were indeed quicker, but did not handle a high volume of cases.

And a study in 2016 by Partners for Law in Development in New Delhi found that they still took an average of 8.5 months per case - more than four times the recommended period.

The government statistics understate the number of rapes as it is still considered a taboo to report rape in some parts of India and because rapes that end in the murder are counted purely as murders.

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News Network
February 28,2020

Patna, Feb 28: Social and cultural activists from far and wide converged here on Thursday to lend their support to a massive rally that marked the conclusion of Kanhaiya Kumar's 'Jan Gan Man Yatra' across Bihar to galvanise public opinion against CAA-NPR-NRC.

Medha Patkar of the Narmada Bachao Andolan fame, Mahatma Gandhi's grandson Tushar Gandhi and former IAS officer Kannan Gopinathan, who gave up his career at a young age in protest against abrogation of Article 370, shared the stage with the former JNU students' leader.

Shabnam Hashmi -- founder of socio-cultural organisation ANHAD and sister of slain Marxist playwright and director Safdar Hashmi -- also joined them.

Congress MLA Shakil Ahmed Khan, a former president of JNU students' union himself who accompanied Kanhaiya during his tour that commenced at Champaran on January 30, Mahatma Gandhi's death anniversary, and leaders of state units of CPI and CPI(M) also addressed the rally held at Gandhi Maidan.

Kanhaiya began his speech with a one-minute silence held in the memory of those who lost their lives in Delhi violence.

Defending his frequent use of the term "azadi" (freedom) which supporters of the Sangh Parivar hold to be tantamount to supporting secession, Kanhaiya said, "We must talk about the virtues of azadi here since today happens to be the day when legendary revolutionary Chandrashekhar Azad had given up his life fighting the British."

Charging the ruling BJP with pitting Hindus against Muslims, he said, "Let us resolve to defeat their agenda by emulating the fabled friendship of Ram Prasad Bismil and Ashfaqullah Khan."

The young CPI leader, who made an unsuccessful debut from his native Begusarai Lok Sabha constituency last year, seemed unimpressed with the resolution passed by the Bihar Assembly earlier this week against NRC and inclusion of contentious clauses in NPR forms.

"Both the government and the opposition are busy congratulating themselves. I extend my congratulations as well. But to all those who are present here, I would say it is a half-victory. We must not allow our movement to fizzle out and draw inspiration from Gandhi's model of civil disobedience when the NPR exercise gets underway," he said.

"Villagers should ask their respective panchayat heads to ensure that no NPR official is allowed to come knocking in their areas of jurisdiction when NPR is scheduled to be undertaken in May," the CPI leader said.

"We have to brace for a long and tough fight. We are living under a regime which sends conscientious professionals like Dr Kafeel Ahmed behind the bars and declares anybody questioning its actions as an anti-national," said Kanhaiya, who has himself been slapped with a sedition case.

Earlier, in his address, Tushar Gandhi likened CAA, NPR and NRC to the "three bullets that killed the Mahatma" and asserted that these measures would "harm the poor, belonging to all religious communities and not just the Muslims".

"If the government does not care about the poor, we must tell those in power -- 'chale jaao' (go away) just as we had done to the British colonisers... it is going to be a long fight. Independence was achieved five years after the call for Quit India Movement," he said.

"We need to keep repeating the importance of non-violence over and over again while those with other value systems simply have to utter inciting statements," he said, in an oblique reference to the controversial poll campaign of Union minister and BJP leader Anurag Thakur during the recently-held Delhi Assembly elections, which the party lost.

Kannan Gopinathan said, "The claim that CAA is all about granting citizenship and not taking it away is bunkum. Any law which seeks to favour one section of the society on the basis of religion can be tweaked to harm another social segment... people say this government is Fascist. I am not sure of that but it is certainly stupid."

"This government brought in demonetisation and wrecked the economy but failed to achieve its promise of eradicating black money. It abrogated Article 370 and now it is clueless as to what to do with the situation in Kashmir," he said.

"Union minister Amit Shah had declared in Parliament that NRC will be implemented. Faced with public resistance, Prime Minister Narendra Modi had to say he does not know what NRC is. Keep up the stir for a little longer, he will start saying he does not know Amit Shah," said Kannan, evoking peals of laughter.

In the course of his speech, Kanhaiya also made the crowds sing after him the National Anthem but skipped a few words towards the end. Participants at the rally were viciously trolled on social media for the slip-up.

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