September 30, 2022

Another Gujarat-based company involved in ‘biggest banking fraud’ in Indian history; Congress asks, ‘Is Modi Govt complicit?’

The Congress has stepped up its assault towards the Centre’s Narendra Modi authorities after the CBI booked administrators and chairman of ABG Shipyard for allegedly committing a financial institution fraud value Rs. 22,842. The information of one other Gujarat-based firm defrauding Indian banks prompted the Congress to ask if the Narendra Modi authorities was additionally ‘complicit’ within the rip-off.

Congress Common Secretary Randeep Singh Surjewala advised reporters on Sunday, “Modi Govt is working a “Loot & Escape” Flagship Scheme for Financial institution Fraudsters. The fraudsters lists embody – Nirav Modi ie Chhota Modi, Mehul Choksi (our Mehul Bhai as per PM), Ami Modi, Neeshal Modi, Lalit Modi, Vijay Mallya, Jatin Mehta, Chetan Sandesara, Nitin Sandesara and lots of others with shut connection and affection to the ruling institution. Rishi Agarwal & others are the brand new ‘GEMS’ of the ‘Shehenshah’.”

This was after the CBI booked ABG Shipyard Ltd and its former chairman and managing director Rishi Kamlesh Agarwal together with different administrators for allegedly dishonest a consortium of banks led by State Financial institution of India of over Rs 22,842 crore. In accordance with information company PTI, the CBI has additionally booked the then govt director of ABG Shipyard, Santhanam Muthaswamy, administrators Ashwini Kumar, Sushil Kumar Agarwal and Ravi Vimal Nevetia and one other firm ABG Worldwide Pvt Ltd for alleged offenses of prison conspiracy, dishonest, prison breach of belief and abuse of official place beneath the IPC and the Prevention of Corruption Act.

Additionally Learn: One other banking rip-off hits Indian banking system as diamond agency owned by Gujarati brothers default IDBI financial institution with Rs. 6,710 crore, greatest since Nirav Modi

Surjewala posed seven inquiries to the Modi authorities throughout his press convention.

He requested, “Why did it take 5 years after the liquidation proceedings of ABG Shipyard to lodge even an FIR for duping 28 banks of Rs. 22,842 crore? Why did Modi refuse to pay attention to public Govt Congress made on 15.2.2018 4 years in the past, by principal opposition get together – Indian Nationwide, warning of a rip-off in ABG Shipyard?

“Why did Modi Govt not lodge an FIR and take prison motion, regardless of ABG Shipyard accounts having been declared as “Fraud” on 19.6.2019? Why did Modi Govt and the CBI not file an FIR towards ABG Shipyard on the time of first criticism made by SBI to CBI, 2 years in the past ie on 8.11.2019? Why did the Finance Ministry, SBI and the CBI stored on pushing information and elevating objections for 2 and a half years between 8.11.2019 to 7.2.2022 ie date of first criticism and lodging of FIR, regardless of the fraud haven being established vis- -vis ABG Shipyard?

“Why did CBI not lodge an FIR for one and a half years, even after the second criticism (25.8.2020) by SBI? Does this not show Complicity, Collusion & Connivance of these sitting within the highest echelons of energy within the Modi Govt?

Positioned in Gujarat, ABG Shipyard has been a giant identify within the Indian shipbuilding business. The Congress mentioned that it had warned of a large financial institution fraud by the corporate approach again in 2018.

BJP MP Varun Gandhi too on Sunday took to Twitter to assault his personal authorities for permitting large companies to commit largescale financial institution frauds with impunity whereas poor farmers have been pressured to finish their lives for his or her incapability to pay small financial institution loans.

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