Oppn seeks Railway Minister's ouster over link with company defaulting Rs 650-cr

Agencies
April 11, 2018

New Delhi, Apr 11: The Congress on Wednesday alleged "impropriety" and "conflict of interest" on the part of Railway Minister Piyush Goyal, saying a company associated with him in the past was given a "haircut" loan waiver of 65 per cent on the outstanding loan amount of over Rs 650 crore.

The party sought his removal from the Union Cabinet and a judicial investigation by a Supreme Court judge into the case.

Talking to the media, Congress leader Ghulam Nabi Azad said: "A damning tale of conflict of interest, sweetened deals, gross impropriety and bank loan defaults by Shirdi Industries Ltd with past and present affiliation to Piyush Goyal and his family is out in open."

Azad, who was accompanied by party leader M. Veerapa Moily and party spokesperson Pawan Khera, said Goyal was chairman and full-time director of Shirdi Industries Ltd from April 25, 2008 to July 1, 2010. The company had worked out a loan of Rs 258.62 crore from a consortium of banks headed by the Union Bank of India.

The Congress leader said that Shirdi Industries was declared sick on June 8, 2015, almost a year after the Modi government came to power.

"Despite Shirdi Industries Ltd (of Rakesh Agarwal and Mukesh Bansal) being declared 'sick', their sister company Asis Industries proceeded to grant an unsecured loan of Rs 1.59 crore in 2015-16 to Intercon Advisors Pvt Ltd, a company owned by Seema Goyal, the wife of the Union Minister," he alleged.

Azad said Goyal was also director of this company from September 15, 2005 to July 22, 2013.

He said that Insolvency and Bankruptcy Code Amending Act, 2017 prohibits a promoter of sick company from submitting bids before the National Company Law Tribunal (NCLT).

"Shirdi Industries went to NCLT. Outstanding loan amount of consortium of banks was Rs 651.87 crore. Shockingly, the consortium of banks agreed to take a haircut (waiver) of 65 per cent of loan amount and settled for Rs 228.85 crore," he said.

"Surprisingly, no one raised an objection that the promoter of Shirdi Industries could not make a bid in view of the prohibitions contained in the insolvency code," he added.

The Congress leader alleged that Rakesh Agarwal of Shridi Industries was "proximate" to Goyal as he was the director in another company along with the brother of Union Minister.

He said Piyush Goyal and his wife were directors in another company and were succeeded by the sons of Agarwal and Bansal.

"The web of corporate entities that ties Piyush Goyal and his family to Rakesh Agarwal/ Mukesh Bansal is glaringly apparent," Azad stressed.

Raising questions, the Congress leaders asked if it was "not a clear-cut case of conflict of interest and impropriety" on the part of Goyal.

The party asked if Goyal had declared his status as a chairman/whole-time director of Shirdi Industries as Rs 258.62 crore loan was raised from the UBI consortium.

It asked why Goyal had not declared the unsecured loan given to his wife's company in his public filing available on the PMO website.

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Agencies
May 10,2020

New Delhi, May 10: Congress leader Rahul Gandhi on Saturday demanded that Prime Minister Narendra Modi ensured audit of donations made to the PM-CARES Fund, and to share the details and the money spent with the people.

"The PM-CARES Fund has received huge contributions from PSUs and major public utilities like the Railways. It's important that the Prime Minister ensure the fund is audited and that the record of money received and spent is available to the public," he tweeted.

The #PmCares fund has received huge contributions from PSUs & major public utilities like the Railways.

It’s important that PM ensures the fund is audited & that the record of money received and spent is available to the public.

— Rahul Gandhi (@RahulGandhi) May 9, 2020
His remarks came amid reports that the central government is accumulating a huge sum of money in the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund set up as a corpus to fight novel coronavirus and that the amount spent will not be audited by the Comptroller and Auditor General.

The CAG office had clarified that since the fund is based on donations, it has no right to audit a charitable organisation.

On Friday, Rahul Gandhi told the media that the PM-CARES Fund should be audited and people of the country should know about the donors and the donations made.

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News Network
March 30,2020

Thiruvananthapuram, Mar 30: Kerala reported 32

fresh cases of coronavirus on Monday, with the worst affected Kasaragod district alone accounting for 17 cases.

Kannur reported 15 cases, while Wayanad and Idukki reported two each, Chief Minister Pinarayi Vijayan told reporters here after a COVID-19 review meeting.

Of the 32 cases, 17 had come from abroad and 15 had been infected through contact.

A total of 213 people are presently under treatment in Kerala.

At least 1.50 lakh people are under surveillance in the state and 623 are in isolation wards of various hospitals.

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News Network
May 7,2020

May 7: Accusing the BJP government in Karnataka of "medieval barbarism" and treating migrants as worse than "bonded labourers", CPI(M) general secretary Sitaram Yechury on Wednesday hit out at the state's decision to stop workers from returning to their homes in different parts of the country citing requirements of the construction sector.

The Karnataka government has withdrawn its request to the railways to run special trains to ferry migrant labourers to their home states, hours after builders met Chief Minister B S Yediyurappa to apprise him of the problems the construction sector will face in case they left.

"This is worse than treating them as bonded labour. Does the Indian constitution exist? Are there any laws in the country? This BJP state government is throwing us back to medieval barbarism. This will be stoutly resisted,” Yechury said in a tweet.

The railways is running Shramik Special trains to ferry to their home towns migrants who were stranded at their places of work during the lockdown.

So far, it has run more than 115 such trains.

The Principal Secretary in the Revenue Department N Manjunatha Prasad, who is the nodal officer for migrants, had requested the South Western Railways on Tuesday to run two train services a day for five days except Wednesday, while the state government wanted services thrice a day to Danapur in Bihar. However, later, Prasad wrote another letter within a few hours that the special trains were not required. Several migrants in the city were desperate to return home as they were out of jobs and money.

Yechury also lashed out at the central government over reports that it owed states and industry Rs 3 trillion and accused the centre of shifting the burden of fighting the pandemic to the state governments.

“While shifting the entire burden of fighting the pandemic on to the State governments, Modi government is not even paying their legitimate dues. After November 2019, Centre has not paid the GST compensation dues for the rest of the financial year, i.e., March 2020.

“Modi government has the right to loot while crores of people & States are left with nothing but the right to starve?,” he tweeted.

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