Govt saved Rs 36,000 crore through direct cash transfer: Ravi Shankar Prasad

New Delhi, Jul 21: The Supreme Court has asked the Ministry of Finance to look into a plea which claimed a loss of hundreds of crore every day, as the public sector banks are not invoking personal guarantees of big corporates who have defaulted on loans.

A bench comprising Justice R. F. Nariman and Navin Sinha asked the petitioners, Saurabh Jain and Rahul Sharma, who filed the PIL, to move the Finance Ministry with a representation within two weeks. The top court observed that the issue is important and the ministry should respond after the petitioner has made the representation before it. The matter had come up for hearing on Monday.

"We are of the view that at page 115 of the Writ Petition it has been made clear that the Ministry of Finance itself has, by a Circular, directed personal guarantees issued by promoters/managerial personnel to be invoked. According to the petitioners, despite this Circular, Public Sector Undertakings continue not to invoke such guarantees resulting in huge loss not only to the public exchequer but also to the common man", said the bench in its order.

Senior advocate Manan Mishra and advocate Durga Dutt, represented the petitioners.

Mishra contended before the bench that the statistics establish the public sector banks incurred a loss of approximately Rs 1.85 lakh crore in a financial year, and the banks did not take action to invoke personal guarantees of the biggest corporate defaulters.

The bench observed that since the petitioners claim the public sector undertakings are not complying with this circular, "We think you should first go to the ministry," said the bench.

Mishra argued before the bench that the loans from a common man are recovered through a mechanism where officials go through even the minutest detail, but promoters, chairpersons and other senior level functionaries of the big corporates find it convenient to get away by defaulting on loans.

The bench told the petitioner's counsel that the Finance Ministry has already issued a notification on this matter, and the petitioners should seek response from the ministry, and then move the top court. Mishra submitted before the bench to issue a direction to the Finance Ministry to give a response on their representation.

The bench said, "We allow the petitioners, at this stage, to withdraw this Writ Petition and approach the Ministry of Finance with a representation in this behalf. The representation will be made within a period of two weeks from today. The Ministry of Finance is directed to reply to the said representation within a period of four weeks after receiving such representation. With these observations, the petition is allowed to be withdrawn to do the needful."

Mishra contended before the bench seeking liberty to come back after a reply from the Finance Ministry. Justice Nariman said this option is open for petitioners after a decision has been taken by the ministry. "We will hear you", added Justice Nariman.

New Delhi, Mar 20: The government on Thursday said one Indian who tested positive for coronavirus has died in Iran while the other citizens infected with the disease are being provided treatment and taken care of by the Iranian government.

Noting that the virus tends to be more fatal for those whose immunity levels are low, a senior MEA official said the deceased, an elderly person, belonged to the vulnerable age group and had health-related complications.

The death was not because of lack of medical attention or care, he said.

"We have evacuated 590 people from Iran where the situation is very severe. The Indians infected with coronavirus in Iran have been segregated and taken care of very well by the government there. We believe they will recover and we will bring them back," the MEA official said, adding that 201 Indians were evacuated from Iran on Wednesday.

The official said closely knit families required some persuasion and counselling during the process of segregation to prevent the spread of the contagion.

The Indian ambassador and other officials explained the consequences of infected people not being separated from their families and were successful to a large extent in segregating the positive cases from the negative ones, he said.

"Some pilgrims and students are still there and our embassy and mission are in control (of the situation)," the official said.

Thiruvananthapuram, May 24: Keralites on Sunday celebrated a low-key Eid-ul-Fitr amid the coronavirus lockdown in the state as most of the faithful marked the culmination of the fasting month of Ramzan by offering thanksgiving prayers at home.

The festival is being celebrated across Kerala and Jammu and Kashmir on Sunday, while the rest of the country will celebrate Eid on Monday.

Kerala Chief Minister Pinarayi Vijayan extended Eid-ul-Fitr greetings to all Keralites across the world.

State Governor Arif Mohammed Khan also extended his festival wishes to all the Keralites.

"May we also have the blessing to prevent and eliminate the COVID-19 disease," Khan tweeted.

Vijayan said this year Ramzan is celebrated at a time when the world is going through "an unprecedented crisis and misery" because of pandemic COVID-19.

"Usual celebration during Ramzan is not there anywhere in the world due to the pandemic. Instead of offering prayers at mosques, which is important for Muslims, this time the prayers and the feast is performed in their homes.

Community leaders have taken this important decision to protect the interests of the society" he added.

The chief minister said Eid-ul-Fitr gives out a message of equality, tolerance and repentance.

The state government had earlier announced that the lockdown restrictions in the state onSunday will be relaxed in the view of Eid-ul-Fitr with shops selling essential items remaining open.

The State government had earlier declared that a complete shutdown would be observed in Kerala on Sundays in order to contain the spread of the deadly virus.