The Reserve Bank of India has revealed that it has written off an enormous amount of Rs 68,607 crores due from 50 Top Wilful Defaulters.
New Delhi| The Reserve Bank of India has revealed that it has written off a tremendous amount of Rs 68,607 crores due from 50 Top Wilful Defaulters, including absconding diamantaire Mehul Choksi, as per a reply under RTI.
Earlier, in March 2020, Congress leader Rahul Gandhi had raised the question of top 50 wilful defaulters in the parliament, to which he did not receive a proper response.
RTI activist Saket Gokhale on 19th March 2020 filed a query about the same.
The revelation came from the response to this query by RBI’s Central Public Information Officer Abhay Kumar.
After the revelation, Rahul Gandhi once again reiterated on Twitter that the people on the list are “BJP friends” and that this is why they hid the truth from parliament.
The attack by Rahul Gandhi appears to have angered finance minister Nirmala Sitharaman, who in a series of late-night tweets slammed the Congress leader for “misleading people in a brazen manner by sensationalising facts”. She even advised Gandhi to take consultation from former Prime Minister Manmohan Singh on issues related to finance.
Sitharaman countered that between 2009-10 and 2013-14, scheduled commercial banks had written off Rs 1,45,226 crore.
She said provisions are made for Non-Performing Assets according to a four-year provisioning cycle laid down by the RBI.
Those defaulters who do not repay despite having capacity to pay, divert or siphon-off funds, or dispose of secured assets without bank’s permission are categorised as wilful defaulters. They are those well connected promoters who benefitted from UPA’s ‘Phone banking’.
— Nirmala Sitharaman (@nsitharaman) April 28, 2020
…while private sector banks were getting out. RBI could have raised more flags about the quality of lending…” RR Rajan.(Source: @IndiaToday Sept 11,2018 and many other print& electronic media). From 2015, PSBs were asked by GoI to check all NPAs >50 crore for wilful default.
— Nirmala Sitharaman (@nsitharaman) April 28, 2020
Finance Minister explained Nirav Modi case, Mehul Choksi case and Vijay Mallya case.
Mehul Choksi Case : Attachments of Rs 1936.95 Crore including foreign attachment of Rs 67.9 Crore. Seizure of Rs 597.75 Crore. Red Notice issued. Extradition Request sent to Antigua. Hearing for declaration of Mehul Choksi as Fugitive Offender is in progress.
— Nirmala Sitharaman (@nsitharaman) April 28, 2020
It is @PMO @narendramodi government which is pursuing these wilful defaulters.9967 recovery suits, 3515 FIRs, invoking Fugitive Amendment Act in cases are on now. Total value of attachment & seizures in the cases of Nirav Modi, Mehul Choksi and Vijay Mallya : Rs 18332.7 Crore.
— Nirmala Sitharaman (@nsitharaman) April 28, 2020
Randeep Singh Surjewala, Congress spokesperson hit back at Finance Minister Nirmala Sitharaman hours after a 13-tweet response to party leader Rahul Gandhi.
To mislead or mistate facts while holding the august office of FM is most unfair @nsitharaman ji!
You tweeted that ₹2,780.50 CR have been recovered from Modi-Choksi-Mallya.
On 16th March, 2020; Parliament was told that ED has recovered only ₹96.93 CR in 5 yrs under PMLA-FEMA! pic.twitter.com/yZskWrbNhb
— Randeep Singh Surjewala (@rssurjewala) April 29, 2020
2/2
3. Why is Modi Govt righting off Bank Loans of absconders & fraudsters like Nirav Modi+Mehul Choksi(₹8,048 CR), Jatin Mehta(₹6,038 CR), Mallya(₹1,943 CR) & others as per RBI’s RTI reply of 24/4/2020?4. Who permitted such huge write offs of Bank loans of defaulters & why? https://t.co/zPzPfqiJtb
— Randeep Singh Surjewala (@rssurjewala) April 29, 2020
Also Read: Loans Worth Rs 20,000 Crore Sanctioned By Rana Kapoor Turned NPA, Says ED
On top of the list are fugitive Mehul Choksi’s company: Gitanjali Gems Limited, followed by the owner of REI Agro Ltd Sandip Jhujhunwala and Sanjay Jhunjhunwala who are being questioned by ED.
Baba Ramdev is also on the list who owes Rs 2,212 crores.
Absconder liquor baron Vijay Mallya’s dead Kingfisher Airlines Ltd. is also on the list owing Rs 1,943 crore.
Of the 50 top wilful defaulters, 6 are linked with the glittering diamond and/or gold jewellery industries.
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