Post 2014 Scams

By pjain      Published April 29, 2020, 1:31 a.m. in blog Humanities-History-Blog   

Viable Industrialists - "Responsible" But smarter at Debt and Management

The Mukesh Ambani - BJP?

Adani Group, Gautam Adani, Default Re 0.96T - heavy BJP supporters

  • Strongly aligned and benefits from BJP connections

Founded by Gautam Adani, the company does business in logistics, agribusiness and energy sectors, among other things. The founder is known to be close to Prime Minister Narendra Modi, probably due to their shared origins in Gujarat. His company has defaulted on Rs 96,031 crore of the banks’ money.

Tatas - Ratan Tata

Top Defaulters - hurting "Stupid" PSU Banks!

Impact

Banks have written off loans worth up to Rs 68,000 crore as of September 30, 2019, claims Right to Information (RTI) activist @SaketGokhale. - The total amount owed by top 50 willful defaulters is Rs 68,607 crores (US$ 8 billion)

No industry is sacrosanct as the top 50 willful defaulters are spread across various sectors of the economy, including IT, infrastructure, power, gold-diamond jewellery, pharma etc.

That equals: - 8 times the amount India has borrowed from the World Bank for fighting Covid-19. - 30% of India’s Covid-19 stimulus package. - 450 million Covid-19 testing kits.

Why are Overseas defaulters NOT listed?

RBI also claims that list of overseas borrowers is exempt from disclosure - means they WILL NOT name willful defaulters in tax havens.

The RBI said that according to section 8 (1)(a) of RTI Act 2005 read with para 77 of Supreme Court judgement of December 16, 2015 in Jayantilal N Mistry case, information on overseas borrowers is exempted from public disclosure.

The government has tightened the norms for NPAs and there is now a stringent regime, including the IBC code, under which promoters of companies which are defaulting on loans cannot continue to bleed the banks and companies.

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. - @NSitharaman

Why no Bank Early Action?

Political Protection - threat of transfer/firing for Bank staff

Banks harass all middle class who are defaulters because of circumstances. All rich and influential get money and let off easily. Two rules for two different world. Sad to see that you have not seen the reality.

Blocking Foreign Travel? How effective or Enforced?

Yes they will be identified only to be escorted out of the country. How come all these fraudsters left India after 2014 ?

Full List and details of properties

Scams and lack of enforcement

UPA's 'phone banking' scheme - 6 years no enforcement

It's quite shocking that our government knows that how phone banking worked during upa rule but @BJP4India failed to book any case against the person making phone banking. How incompetent this government is? Already 6 years passed.

Biggest Debtors or Defaulters and their Web of Connections to Political Parties

Anil Ambani camp - Strong Congress connections - Re 1.25 T highest defaults to PSUs

Reliance Group: Anil Ambani-led Reliance Group operates in the power sector and the entertainment business. It also has business interests in insurance, wealth management and telecommunication sector. The Reliance-group owes the banks, Rs 1.25 T, the largest amount owed by any company, according to the report.

Anil Aggarwal, Vedanta Group - Re 1.03 T defaulted - BJP-supporter, HQ in London

Headquartered in London, Anil Aggarwal’s The Vedanta group operates in the metals and mining sector. Second-largest defaulter on the list, Vedant group owes the banks nearly Rs 1.03 lakh crore.

Ruias - Essar Group - Re 1.01 T default - heavy Congress supporters

  • Ruias and Ambanis are close friendly families.

A giant with diverse business interest ranging from services to steel, the Essar Group was founded by brothers Shashi Ruia and Ravi Ruia. Rigged with controversy, the group balance sheet shows a debt worth Rs 1.01 lakh crore.

Jaypee Group - Manoj Gaur - Mayawati UP sponsored Re 0.75 T

Run by Manoj Gaur, the company is said to have flourished well in Former Chief Minister Mayawati’s reign in Uttar Pradesh. His company has cost the banks Rs 75,163 crore.

JWS Group, Sajjan Jindal - Modi/BJP Political Broker - Re 0.5 T default

The steel giant was founded by Sajjan Jindal who also the Chairman of the company. He is known to have organised a meeting between Prime Minister Narendra Modi and his Pakistani counterpart, Nawaz Sharif. His company, on the other hand, has a debt of Rs 58,171 crore on its balance sheet.

GMR Group, Mr GM Rao, Re 0.48 T default - Benefited heavily from UPA Congress

The company that built the Delhi airport’s International Terminal T3 which cost around 12,850 crore. His company now owe Rs 47,976 crore to the banks. GMR Group was awarded Contracts for operating Delhi & Hyderabad Airports by UPA.

How are they connected to BJP now?

Lanco Group, L Rao, Re 0.47T owed to banks

Lagadapati Madhusudan Rao’s company is in the construction and power (solar and thermal) business. As per the report, he owes Rs 47,102 crore the banks.

Videocon Group, Venugopal Dhoot, Re 0.45 T - now absconding abroad

Famous for making television and now offers d2h services. Its founder and CEO Venugopal Dhoot also ventured into the telecommunication business. This group owes the banks about Rs 45,405 crore.

Bhusan Power & Steel, Brij Bhushan Singhal, Re 0.37 T

GVK Group,GVK Reddy, ?AP sponsors, Re 0.34T

The GVK group in a large Indian conglomerate founded by Gunupati Venkata Krishna Reddy. The company has business interests in the energy sector, hospitality industry, infrastructure and life science. The total amount of money owed by the company is Rs 33,933 crore.

Alok Industries, Surendra Bhoan, Re 0.22 T

Amktek Auto, Arvind Dham, Re 0.14 T

Monnet Ispat & Energy, Sandeep Kanodia, Re 0.12 T

Electrosteel Steels, Umang Kejriwal, Re 0.1 T

ERA Infra Engg, H S Bharana, Re 0.1 T

ABG Shipyard, Rishi Agarwal, 0.07T

Jyoti Structures, Sadashiv Kshirsagar 0.05 T

Nirav Modi, Gujarati Diamond Merchant - BJP?

  • Gujarati and seen in group photos along with Narendra Modi

Nirav Modi Case : Immovable and movable properties worth more than Rs 2387 Crore attached/seized.( Attachment Rs 1898 Crore and Seizure Rs 489.75 Crore) . This includes foreign attachments of Rs 961.47 Crore. Auction of luxury items for Rs 53.45 Crore. He is in prison in the UK.

Mehul Chowsi, Gujarati Diamond Merchant - BJP?

Gitanjali Gems tops the list of these defaulters with a whopping amount of Rs 0.05,5 T Deccan Chronicle Holdings Rs 0.02 T written off loans.

Choksi’s other firms Gili India and Nakshatra Brands also have loans of Rs 1,447 and Rs 1109 crore respectively written off.

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.

REI Agro - Jhunjhunwala Bros- BJP?

REI Agro of Jhunjhunwala brothers is already under the scanner of ED. The CBI and ED are also probing alleged fraud by the owners of Winsome Diamonds.

  • Highly influential in Mumbai and Gujarat clique of financial manipulators

Rotomac Global Re 0.03T

Kanpur-based writing instruments giant

  • It has funded advances of Rs 2,850 crore which have been technically written off Vikram Kothari’s Rotomac is the fourth in the list. He and his son Rahul Kothari were arrested by the CBI for bank loan default.

Kudos Chemie, Punjab Re 0.023

  • with Rs 2,326 crore written off

Ruchi Soya Industries, Indore Re 0.02 T

  • now owned by Ramdev’s Patanjali, with Rs 2,212 crore

Zoom Developers, Gwalior, 0.02

  • with Rs 2,012 crore default

Diamonds Private Limited has loans of Rs 1,962 crore written off

Forever Precious Jewellery, Ahmedabad, Harish R. Mehta Re 0.02 T

Vijay Mallya - Congress/Tamil Nadu/AP? 0.02T

Mallya’s Kingfisher Airlines figures in the list at number 9, with outstanding of Rs 1943 crore which have been technically written off by the banks.

Case : Total value at the time of attachment was Rs 8040 Crore and of seizure was Rs 1693 Crore. Value of shares at the time of seizure was Rs 1693 Crore. Declared fugitive offender. On extradition request by GoI,UK High Court, has also ruled for extradition.

Zee - BJP strong supporters

Pl get the money from your RS Member Zee whose company is top defaulter in YES Bank as per list released by you

Birlas - UPA-staunch - 3 generations of Strong Congress connections

Vodaphone acquired Birla's Idea with Mutual fund and debt funds which it is defaulting

NBFC Scams

Yes Bank

Data Sources, Causes and Political Funding of Elections

BJP 6 years of incompetence could not break bank looting

BJP has been in power for six years. Their ability to govern and regulate financial institutions stands exposed First, it was PMC Bank. Now it is YES Bank. Is the government concerned at all? Can it shirk its responsibility? @PChidambaram_IN

UPA Congress - weak in Coalition - "helpless" against regional looting

100% of these loan defaults pertain to UPA period with P Chidambaram as Finance Minister and Sonia Gandhi as UPA Chairperson, when Bank Chairmen would get calls to sanction unsecured loans to all these crooks.

BJP Fund for 2014, 2019 Elections

  • Was BJP connected to yes bank & pnb, WADHWAN Bros ended up in 2 lac crores get in party fund...

CRILIC

RBI has given names of defaulters which are there in the CRILC database, where banks report certain credit information of all borrowers who are having aggregate fund based and non-fund based exposure of Rs 5 crore and above.

Bank-wise details of aggregate funded amount outstanding & amount technically/prudentially written off, pertaining to top fifty wilful defaulters was provided as an annex to the answer to Lok Sabha starred question *305 of Shri. RahulGandhi on 16.3.2020. Earlier, on 18.11.2019, in the Lok Sabha for an unstarred Question no:52, a list of “Borrowers flagged as wilful defaulter by Public Sector Banks under CRILIC reporting as on 30.09.2019 (For borrowers with exposure of Rs. 5 crore and above, Global operations) was provided. .. @nsitharaman

Swiss Tax Havens

Italian Mafia connections to Sonia Gandhi Alleged?

All these defaults will lead to door steps of Italian mafia

Tax Havens other Data Sources

News coverage


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