Govt allowed Mallya to escape: Cong; Loans given by UPA: Govt

March 10, 2016

New Delhi, Mar 10: Congress today accused the BJP- led government of "criminal consipracy" in allowing businessman Vijay Mallya, facing probe in several loan default cases, to fly out of the country, as Finance Minister Arun Jaitley sought to corner the main opposition party by saying the loans were given to him during UPA rule.

upa"My charge against this government is that when so many agencies were interrogating him (Mallya), why was he not arrested, why was his passport not confiscated," Leader of Opposition Ghulam Nabi Azad said in Rajya Sabha.

Raising the matter during Zero Hour, Azad said everyone knew Mallya "could flee any day" and the investigating agencies should have seized his passport and taken steps to restrict his movement.

Maintaining that Mallya lived a "luxurious life" and had bases in several countries, the Congress leader said Mallya is not a "needle" and moves around with an entourage and expressed surprise how he managed to leave the country despite a CBI "Look Out Notice".

"My allegation is that this government is party to this criminal conspiracy of allowing him to escape and leave the country. In this criminal conspiracy, this Government should be made party and the Supreme Court should take note of this.

"Without the participation and without the active support of this government, he could not have left the country. That is my allegation," Azad said, adding that "one had escaped, the second Lalit Modi (Mallya) should not be allowed to escape".

Countering the charges, Jaitley said the banks have been asked to recover "every penny that is due", adding that the first banking facility was given to Mallya and his companies in September 2004 which were renewed in February 2008.

The Leader of the House further said the accounts were declared non-performing assets (NPA) on April 30, 2009 and these debts were restructured and more facilites extened in December 2010.

"In what circumstances were the loans given is an issue of investigation and the CBI is investigating," he said.

"How these accounts were running, what facilities were given, the dates tell their own story," Jaitley said, adding "when the loans were given, how they were given... introspection will be required."

Jaitley said the liabilities including interest aggregates to Rs 9,091.4 crore as on November 30, 2015.

Maintaining that banks and financial institutions were taking steps to recover dues and attachment of properties, the Minister said he had a list of 22 cases filed in different parts of the country and added that some assets have also been attached.

He also said there was no order to stop Mallya from leaving the country.

"That day, there was no order of any agency to stop him (from leaving the country)," Jaitley said, adding Mallya had left the country before the banks moved the Supreme Court for seizure of his passport.

Mallya had left the country on March 2.

On Azad's contention that the present government had failed to bring back Lalit Modi, Jaitley said it was during the UPA rule that the former IPL chief had left the country.

"I was giving an example that one had escaped, the second Lalit Modi (Mallya) should not be allowed to escape," Azad said.

The senior Congress leader also said that during his long political career, he has never recommended to any bank for advancing loan to any person.

Earlier, Naresh Agrawal (SP) said the matter of Mallya, a Rajya Sabha MP, should be referred to Ethics Committee.

Deputy Chairman P J Kurien said: "I agree with you. This is a matter to be taken up by the Ethics Committee".

Comments

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Thursday, 10 Mar 2016

Mallya should be treated as terrorist, because he cheated many innocent employees by holding their salaries and he is reason for the suicide of his many employees.

Indian government should make arrangements to bring him back from other country without any delay.

In each bank there is a thief, the thief might have been informed him to leave the country in advance.

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News Network
June 18,2020

New Delhi, Jun 18: The Delhi High Court Thursday asked the Delhi Police to file status report on a plea by Jamia Coordination Committee member Safoora Zargar, who was arrested under the anti-terror law --UAPA -- seeking bail in a case related to communal violence in northeast Delhi during protests against the Citizenship Amendment Act in February.

Zargar, M Phil student of Jamia Millia Islamia University, is more than four months pregnant.

Justice Rajiv Shakdher issued notice to the police and asked it to file a status report on the bail plea.

The high court listed the matter for further hearing on June 22.

Zargar, who was arrested by the Special Cell of Delhi Police on April 10, has challenged the June 4 order of the trial court denying her bail in the case.

The trial court, in its order, had said “when you choose to play with embers, you cannot blame the wind to have carried the spark a bit too far and spread the fire.”

It had said that during the course of investigation a larger conspiracy was discernible and if there was prima evidence of conspiracy, acts and statements made by any one of the conspirators, it is admissible against all.

The court had said that even if there was no direct act of violence attributable to the accused (Zargar), she cannot shy away from her liability under the provisions of the Unlawful Activities (Prevention) Act (UAPA).

However, the trial court had asked the concerned jail superintendent to provide adequate medical aid and the assistance to Zargar.

The police had earlier claimed that Zargar allegedly blocked a road near Jaffrabad metro station during the anti-CAA protests and instigated people that led to the riots in the area.

It further claimed that she was allegedly part of the “premediated conspiracy” to incite communal riots in northeast Delhi in February.

Communal clashes had broken out in northeast Delhi on February 24 after violence between citizenship law supporters and protesters spiralled out of control leaving at least 53 people dead and scores injured.

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News Network
June 2,2020

New Delhi, Jun 2: India on Tuesday reported 8,171 more COVID-19 cases and 204 deaths in the last 24 hours as the country's virus count inches closer to two lakh, according to the Union Ministry of Health and Family Welfare.

The total number of cases in the country now stands at 1,98,706 including 97,581 active cases, 95,527 cured/discharged/migrated and 5,598 deaths.

Cases in Maharashtra have crossed 70,000 including over 30,000 recovered while Tamil Nadu's COVID-19 tally jumped to 23,495.

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March 27,2020

Mumbai, Mar 27: The RBI on Friday put on hold EMI payments on all term loans for three months and cut interest rate by steepest in more than 11 years as it joined the government effort to rescue a slowing economy that has now got caught in coronavirus whirlwind.

The Reserve Bank of India (RBI) cut repo to 4.4 per cent, the lowest in at least 15 years. Also, it reduced the cash reserve ratio maintained by the banks for the first time in over seven years. CRR for all banks was cut by 100 basis points to release Rs 1.37 lakh crore across banking system.

The reverse repo rate was cut by 90 bps to 4 per cent, creating an asymmetrical corridor.

RBI Governor Shaktikanta Das predicted a big global recession and said India will not be immune.

It all depends how India responds to the situation, he said.

Global slowdown could make things difficult for India too, despite some help from falling crude prices, Das said, adding food prices may soften even further on record crop production.

Aggregate demand may weaken and ease core inflation further, he noted.

The liquidity measures announced include auction of targeted long-term repo operation of 3 year tenor for total amount of Rs 1 lakh crore at floating rate and accommodation under Marginal Standing Facility to be increased from 2 per cent to 3 per cent of Statutory Liquidity Ratio (SLR) with immediate effect till June 30.

Combined, these three measures will make available a total Rs 3,74,000 crore to the country's financial system.

After cutting policy rates five times in 2019, the RBI had been on a pause since December in view of high inflation.

The measures announced come a day after the government unveiled a Rs 1.7 lakh crore package of free foodgrains and cash doles to the poor to deal with the economic impact of the unprecedented 21-day nationwide lockdown.

While the Monetary Policy Committee (MPC) of the RBI originally was slated to meet in the first week of April, it was advanced by a week to meet the challenge of coronavirus.

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