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Loan write-off should not apply to fugitives: Chidambaram

  •   Wed, Apr 29 2020 06:40:31 PM

New Delhi, Apr 29 (IANS): Former finance minister P. Chidambaram has asked the government why the loans of fugitives like Nirav Modi and Mehul Choksi have been written off.

Chidambaram was commenting in a press conference on ongoing controversy where the Congress has alleged that the government had written off loans of 50 wilful defaulters including Mehul Choksi and Vijay Mallya.

The former union minister replied to the allegation by Finance Minister Nirmala Sitharaman that the majority of the loans were given during the UPA government and Modi government is trying to recover that amount.

"Technical loan write off route should not be applied to fugitives," said Chidambaram.

He said in his view technical write-off should not have been done in such cases and asked who is applying these rules.

The war of words between the Congress and the government intensified after the Congress alleged that the government is writing off loans while Information Minister Prakash Javadekar said writing off is not waiving off and asked Rahul Gandhi to take tution from P. Chidambaram.

The Congress on Tuesday slammed the government for writing off loans of top fifty wilful defaulters to the tune of Rs 68,607 crore, saying the government and the Finance Minister should come clean on it. The Congress charged the BJP with helping the defaulters.

"Till April 24, Rs 68,607 crore have been written off by the government. The Prime Minister cannot evade this question by keeping silent," said Congress Chief spokesperson Randeep Surjewala.

The Congress said Rahul Gandhi had asked this question in Parliament, but the government did not respond. "But now an RTI has revealed the magnitude of the waiver," he said.

 
  

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  • smr, Karkala

    Wed, Apr 29 2020

    Both diamantaires Jatin Mehta of Winsome Diamonds and Jewelry Limited and Nirav Modi(Chota Modi) Firestar Diamond International, Gitanjali Group, A. Jaffe Inc. are linked, by marriage, to some of India’s most wealthiest and influential business families. Mehta is a close relative of the Adani family – his son Suraj, is married to Krupa, Gautam Adani’s niece. Modi’s brother (Neeshal), on the other hand, is married to the niece (Isheta) of Reliance’s Mukesh Ambani.

    Modi and Mehta have more in common than one might think. They are both Palanpur merchants from Gujarat, both diamond merchants that walked the same path of precarious funding to reach their ultimate destination as defaulters.

    Strangely, in both cases, Punjab National Bank has also been left red-faced, holding the tragically short end of the stick.

    These willful defaulters having Ambani and Adani dynasty connections runs the PM Modi government in return for election favor. How PM with 53 inch chest trumping can go against the clique on which survival of central government relies?

    This is the new way of corruption mastered by BJP, which gets political funding from the few 'corny capitalist'. In return of winning government ask the Banks to given loan. When the banks stop making profit about closed merging with another bank diverting money from LIC or RBI. Once the loans are paid then free escape to country they wish were Interpol and India's extradition treaty doesn't apply. Then the same money circumvent as investment to India and also used to influence political parties abroad in favor of India.

    Now the same Bhaktha's who made rumble of '2G scam' during UPA government , thinks BJP's scams are divine and in the interest of 'Bharat Mata'. In the meanwhile anti corruption crusade Baba Ramdev missing in action even the his partner Baba Ramdev is one the defaulter.

    Jai Hind

    DisAgree [1] Agree [6] Reply Report Abuse

  • Satish Kunder, Mangalore/Mumbai

    Wed, Apr 29 2020

    This government is returning the favours to these fugitives as they had funded the party with huge amount of money in the elections.

    Now BJP supporters re election trying to defend the action with various arguments like it is only 'write off', 'loan disbursed during UPA'

    This is the first step and finally iwaive of the loan. FM of the country is trying to mislead the people with different figures. She seems to be not having complete information.

    One thing is clear. This government is for powerful and rich. Not bothered about farmers, migration workers and daily wage labourers.

    DisAgree Agree [7] Reply Report Abuse

  • David Pais, Mangalore

    Wed, Apr 29 2020

    what about baba maggie ramdev. y his loan was written off. he has owned an island in u.k.

    DisAgree Agree [6] Reply Report Abuse

  • Anilkumar, Mangalore

    Wed, Apr 29 2020

    The finance ministers reply is similar to saying that "the thief is let off because the theft was conducted when some other police officer was in charge. We are trying to recover, but cannot do that and hence the case is closed"

    DisAgree Agree [6] Reply Report Abuse

  • R.Bhandarkar, Mangaluru

    Wed, Apr 29 2020

    Look who's talking !
    Isko Zaraa Gour Se Dekho !
    Kuch Yaad Aaya ? Remembered something ??
    Many things remembered aa ?...
    Then forget...Don't read his crap suggestions ...

    DisAgree [18] Agree Reply Report Abuse

  • Manoj, Kavoor

    Wed, Apr 29 2020

    Sad!! Very sad initiative by the Govt to write off loans of Fugitives and Wilful defaultors. Vijay Mallya is facing extradition, what is the urgency to write off his loan, that too when he has told openly that he will pay the money to the banks. FM is good for making pickle at home coz so much of camouflage in her so called 'GREAT ECONOMIC PACKAGE '. 50 lakh worth Insurance to the Corona Warriors (MEDICAL) not LIFE INSURANCE, pathetic. Shld have given them atleast 20L worth Life Insurance when you call them Warriors, so many of them lost their lives fighting for the well being of the society, their flys would have blessed ull. Economy is in doldrums not from the outbreak of Covid but much before that, but there is an excuse now. Your real test is coming up, be better prepared, else make way for someone capable. Do d JOB!! Go well all.

    DisAgree [3] Agree [8] Reply Report Abuse

  • vasu, Mangalore

    Wed, Apr 29 2020

    Hang on.Write off is just an accounting term. It does not mean that the governent will not go after them for recovery. ED has already attached mallyas property more than the loan. It is going legally against all the defaulters.Write offs of farmers loan is different from write offs of defaulters.

    DisAgree [4] Agree [2] Reply Report Abuse

  • Sanjay Serrao, Mangalore

    Wed, Apr 29 2020

    True! Chidambaram also knows it!

    DisAgree Agree [1] Reply Report Abuse

  • anthony, Mangalore

    Wed, Apr 29 2020

    Typical BJP response from Javdekar Attack the Messanger (Rahul Gandhi) and Ignore the message. The PM and the Finance Minister owe the nation an explanation as to why such a huge ammount is being written off if not waived off. One wonders if this Govt is using this serious Pandemic to clear all such write off of Loans especially of fugitives. Goes without saying that the Gujarat Connection in this write off's of is overtly visible.

    It was by chance RTI that has exposed this shady deal.

    DisAgree [1] Agree [12] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Wed, Apr 29 2020

    Loan write-off should have been given only to our Farmers who toil for our Daily Bread.
    This is going to BJP's biggest Disaster ...

    DisAgree [2] Agree [19] Reply Report Abuse

  • Save my India, India.

    Wed, Apr 29 2020

    India is heading for bigger financial mess due to the weak performance of the Finance Minister at present.
    Jai Hind!!!

    DisAgree [3] Agree [13] Reply Report Abuse

  • James, Bendur

    Wed, Apr 29 2020

    Good reply to our great F.M. Nirmala Sitaraman who just said to Rahul Gandhi to take tuitions from Mr.Chidambaram.
    Nirmala Sitharaman is the most weakest F.M India ever seen.

    DisAgree [4] Agree [20] Reply Report Abuse

  • Veer, Nagpur

    Wed, Apr 29 2020

    Criminals live criminal solutions. It can never be otherwise. Then it will be lifeless to them.

    DisAgree [1] Agree [8] Reply Report Abuse

  • Bhavya Baliga, Udupi / San Francisco

    Wed, Apr 29 2020

    That included Phone Banking also till 2014.

    DisAgree [7] Agree [4] Reply Report Abuse

  • Veer, Nagpur

    Wed, Apr 29 2020

    'Phone Banking' or 'Digital Banking' is worthless to talk about now unofficially only meant for media publicity. Why you couldn't say that officially when you had an opportunity in the parliament????. Now you can say all by yourself and add any amount of concocted allegations and accusations in front of the media. It has no value only benefitting guilty blind Bhakths as defence.

    DisAgree [1] Agree [9] Reply Report Abuse


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