Latest


PM Modi wants to use public money to save crisis-hit IL&FS: Rahul Gandhi

  •   Sun, Sep 30 2018 07:55:11 PM

New Delhi, Sep 30 (Zee News): In yet another attack on Prime Minister Narendra Modi, Congress president Rahul Gandhi on Sunday alleged that the Centre is trying to use public money to clear off the debt incurred by Infrastructure Leasing & Financial Services (IL&FS) group and save the company

Calling LIC the sign of trust of the people of the country, Rahul added that people have invested their money from sheer hard work in LIC policies. The Gandhi scion hit out at PM Modi and questioned why the Prime Minister wants to use this money to conceal corruption and save traffickers.

He took to Twitter and said, "Modi ji, your favourite private company ILFS is about to shut down. And You want to save it by using money from LIC. Why? LIC is the sign of trust of country people. People have invested their money from sheer hard work in LIC policies. Why do you want to use this money to conceal corruption and save traffickers?"

The Congress chief went on lashing out at the Prime Minister. His tweet further added, "Does ILFS stands for you as 'I Love Financial Scams'?"

The IL&FS group is facing a serious liquidity crisis and has defaulted on interest payment on various debt repayments since August 27. The crisis has triggered a massive political war of words between the ruling Bharatiya Janata Party (BJP) and the Congress.

The IL&FS group has over Rs 91,000 crore in debt at the consolidated level. The company needs an immediate capital infusion of Rs 3,000 crore and is planning a Rs 4,500-crore rights issue.

At a meeting held earlier this month, the key shareholders of the debt-ridden company, including LIC, SBI and HDFC, had kept a pre-condition for IL&FS to raise funds through its assets or non-core businesses, before any additional money could be pumped in.
  

Top Stories

Comment on this article

  • R Bhandarkar, Mangaluru

    Sun, Sep 30 2018

    Reporter: Sir ,Full Form of IL & FS ?
    RaRa : Inter Lock And Firing Services.

    DisAgree [8] Agree [5] Reply Report Abuse

  • Rajesh, UDUPI

    Mon, Oct 01 2018

    Buddy, does he not say it is like - I Love Financial Scams......

    DisAgree [1] Agree [1] Reply Report Abuse

  • Pradeep, Mangalore

    Mon, Oct 01 2018

    And Bhandarkar will say.... I Love being Fekus Slave.

    DisAgree [1] Agree [7] Reply Report Abuse

  • Rathna, Bengaluru

    Mon, Oct 01 2018

    Me: RB, what is RaRa?
    RB: RaRa aa? On a Sunday, that too just two days prior to a dry day, RaGa becoming RaRa shouldn't surprise you

    DisAgree [3] Agree [4] Reply Report Abuse

  • SMR, Karkala

    Sun, Sep 30 2018

    The now-beleaguered and much-derided Infrastructure Leasing & Financial Services Limited (IL&FS) holds its annual general meeting on September 29. IL&FS has a handful of major shareholders who, like Kumbakarna of Ramayana fame, were in deep slumber through the long night of mismanagement, and it remains to be seen whether these same shareholders display the wisdom and ferocity of this mighty warrior when awake.

    IL&FS crisis was worth seven times more than the combined economic offences of Vijay Mallya, Nirav Modi and Mehul Choksi worth of ₹91,000 crore as on March 31, 2018 and was in no position to pay back its dues and had started defaulting.

    This is such a serious matter that a multi-agency investigation needs to be carried out under the Supreme Court's monitoring," Tewari said and questioned how a company with 40% stake of government institutions was allowed to pile up ₹91,000 crore debt.
    The equity structure of IL&FS Ltd includes LIC's 25.34%, Central Bank of India's 7.67 % and State Bank of India's 6.42%. Besides, Orix Corp of Japan owns 23.5% and Abu Dhabi Investment Authority owns 12.5%.
    A high-level probe was needed to ascertain how central government employees nominated by LIC, CBI and SBI in the IL&FS Board could allow the group's debt to rise 44% in the last three years to a debt to a net worth ratio of 16.78 to one?'
    IL&FS is on the verge of collapse and if that were to happen it will have a domino effect like after Lehman Brothers one after the other financial institutions started tumbling.
    Prime Minister's Office and the Finance Ministry were putting pressure on Reserve Bank of India (RBI), SBI, LIC and National Highway Authority of India (NHAI) to bail out the company.
    Jai Hind

    DisAgree [4] Agree [13] Reply Report Abuse

  • Tell The Truth, Mangalore

    Sun, Sep 30 2018

    BJP suffers big jolt. According to BBC world's ten most corrupt political parties our country's most respected party Congress decorated in second most position. Namage Hemmea vishaya. BJP no where in the list. Poora duniya ko patha chala inka karma-kand.

    DisAgree [18] Agree [11] Reply Report Abuse

  • Langoolacharya, Belman / Washington,DC

    Sun, Sep 30 2018

    Please comment Jossey Sir and Donald D...

    If they come to power in 2019...I have no doubts in my mind...they will be number one....

    ...Tak...Tak...

    DisAgree [6] Agree [9] Reply Report Abuse

  • leslie, udupi

    Sun, Sep 30 2018

    Langool,
    2019 will be the last victory of Teaboy.
    Even BBC is the most corrupt TV channel...
    Thoda Rafale gaya hoga udhar...
    With margin like Chandrasekar...
    Only it is up to congress to soul search and find young blood to lead...
    It will happen sooner than later...
    This cow party can never look beyond horse eye...

    DisAgree [4] Agree [7] Reply Report Abuse

  • Karthik, Konaje /Navi Mumbai

    Sun, Sep 30 2018

    'Truth Teller' is really a misnomer for you as the so called 'BBC survey' had been proved to be Fake an year ago, most probably it had it's origin at B- IT cell. Feku-2 suits you better.

    DisAgree [2] Agree [9] Reply Report Abuse

  • mohan, Mangalore

    Sun, Sep 30 2018

    These GUJJUS never bothered for country.. .. their only God is money..... this modi will do anything to save GUJJUS

    DisAgree [4] Agree [25] Reply Report Abuse

  • Pooki 3, MANGALURU

    Sun, Sep 30 2018

    Modi thought, he will silence Rahul by calling him PAPPU ! Its time for pay back Mr.Modi ! take it or leave it ? By the way which country you are visiting this time !!! Somalia better ! You will be surrounded by pirates to welcome you ! Then you start yelling BHAYION BHENO MITRON DESHWASHIYON bla bla bla bla

    DisAgree [3] Agree [18] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sun, Sep 30 2018

    Why do we have to use our money to save Bankrupt Anil Ambani ...

    DisAgree [5] Agree [33] Reply Report Abuse

  • Vincent Rodrigues, Katapadi/Bangalore

    Sun, Sep 30 2018

    People need to know how much our tax paid money spent on PM's foreign trips and what benefits the country gained except his site seeing programme.

    DisAgree [3] Agree [27] Reply Report Abuse


Leave a Comment

Title: PM Modi wants to use public money to save crisis-hit IL&FS: Rahul Gandhi



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.

You might also like