[Forget about communal venom spewed by Modi's Ministers. Forget about Modi himself. Forget about Giriraj Singh's threat to send Modi's critics to Pakistan (see: <http://indiatoday.intoday.in/story/love-jihad-giriraj-singh-up-bupoll-loss-bjp-adityanath/1/383680.html>). Quite a few are mired in financial skullduggery.]
I/IV. http://indiatoday.intoday.in/story/modi-cabinet-tainted-ministers-crorepatis-mahesh-sharma-ys-chowdary-adr-analysis/1/400130.html Half of Modi's new ministers face criminal cases, majority are crorepatis Mail Today Bureau | Mail Today | New Delhi, November 11, 2014 | UPDATED 10:14 IST Dr Ram Shankar Katheria, Hansraj Gangaram Ahir, Sadhvi Niranjan Jyoti, Giriraj SinghAlmost half of the 21 new faces inducted into Prime Minister Narendra Modi's Council of Ministers have declared criminal cases against them, while a majority are crorepatis with their average assets pegged at Rs.18.48 crore. An analysis of the criminal and financial backgrounds of the 66-member Council of Ministers by the Association for Democratic Reforms (ADR) has revealed that 59 of them, or 92 per cent, are crorepatis. Among the newly inducted ministers, the highest increase in assets was registered in the case of Mahesh Sharma from Gautam Budh Nagar, whose worth rose from Rs.15.85 crore in 2009 to Rs.47.37 crore this year. Eight of the new ministers have declared criminal cases against themselves and four are facing serious criminal cases. Of the total Council of Ministers, 20 or 31 per cent have declared criminal cases against themselves, while 11 ministers or 17 per cent are facing serious criminal cases like attempted murder, inciting communal disharmony and electoral violations. ADR analysed data from the election affidavits of 64 ministers and the details of Union ministers Suresh Prabhu and Birender Singh were not included as they are not members of either House of Parliament. The inclusion of Ramshankar Katheria from Agra constituency in the Council of Ministers led to a controversy on Monday as Congress slammed the BJP on the issue of the tainted minister. Katheria has declared a case of attempted murder against him. According to his affidavit, he is also facing cases related to promoting enmity between different groups on grounds of religion and race and committing acts prejudicial to maintenance of harmony. Similarly, Giriraj Singh of Nawada constituency declared a case related to undue influence during an election (Section 171F of the IPC). As far as the financial background of the ministers is concerned, the average assets of the new ministers were worth Rs.18.48 crore. Yalamanchili Satyanarayana Chowdary, a Rajya Sabha member from Andhra Pradesh, declared the highest total assets of Rs189.69 crore, followed by Jayant Sinha from Hazaribagh constituency with assets of Rs.55.67 crore and Mahesh Sharma from Gautam Budh Nagar with total assets of Rs.47.37 crore. On the other hand, Sadhvi Niranjan Jyoti from Fatehpur declared the lowest total assets of Rs.37.63 lakh. Five members of the council of ministers had declared assets of less than Rs.1 crore. Seven members of the council of ministers have total assets worth over Rs.30 crore, including Arun Jaitley (Rs.113 crore) and Harsimrat Kaur Badal (Rs.108 crore). The NDA government strongly defended the expansion of the council of ministers in the wake of taint charges raised against some ministers by the Congress, saying that Prime Minister Narendra Modi had chosen his team members after checking their credentials and facts related to each one of them. Reacting sharply to Congress's attack on Modi, Finance Minister Arun Jaitley said that all the charges were baseless. "During the UPA government, the prime minister never had the last word in the formation of the cabinet or its expansion. In the NDA, it is a different trend. The last word is exclusively that of the prime minister," he said. Cong questions PM on 'criminal' ministers The Congress on Monday questioned Prime Minister Narendra Modi's pre-poll stand on cleaning up parliament of tainted lawmakers and alleged that the number of shady members in his council of ministers had gone up. "The number of tainted ministers in the cabinet has gone up to 15 or 16 of the total 66," Congress communication department chief Ajay Maken said. "You talk of cleaning Parliament of criminals, but you go on inducting tainted ministers," he said, adding Modi should have kept tainted leaders out as cabinet formation is his prerogative. A study of 64 of the 66 cabinet ministers done by anti-graft NGO Association for Democratic Reforms indicated that 20 of them had declared criminal cases against themselves in their affidavits to the Election Commission. ***Maken pressed for the resignation of Minister of State for Science and Technology Y.S. Chowdary and produced bank documents that he claimed showed Chowdary's company had defaulted on the repayment of a loan of Rs.317.6 crore from the Central Bank of India.*** [Emphasis added.] "Did you make him a minister to save him from default? The Modi government should come clean on it and the minister should resign," Maken said. He further alleged that Minister of State for HRD Ram Shankar Katheria has a record of 23 cases against him in the affidavit he filed with the Election Commission. "Perhaps, no other MP has such a bulky criminal record," he said. - By Amit Agnihotri in New Delhi II/IV. Govt. banks use taxpayers' money to bail out India's latest Mantri While YS Chowdary is extremely wealthy, the shares prices of his three listed Sujana companies are down by 93-97% while being bailed out by banks MONEYLIFE DIGITAL TEAM | 11/11/2014 http://www.moneylife.in/article/how-banks-helped-modis-new-minister-get-rich-while-shareholders-got-poor/39399.html?utm_source=PoweRelayEDM&utm_medium=Email&utm_content=Subscriber%234027&utm_campaign=Daily%20newsletter%2011%20November%202014 Prime Minister Narendra Modi on Sunday inducted 21 ministers in his cabinet. This includes Telugu Desam Party (TDP)'s YS Chowdary, popularly known as Sujana Chowdary. He is an industrialist and one of the richest members of Parliament (MPs) in Rajya Sabha with assets of about Rs190 crore. However, the Sujana group headed by Chowdary is also one of the biggest bank defaulters. Should not PM Modi, who talks about 'cleanliness' in public life all the time, ask his minister to clean his slate before serving in the government? Citing a release issued by Central Bank Employees Union last week, Congress general secretary Ajay Maken alleged that Chowdary had defaulted on repayment of Rs316 crore taken from Central Bank of India. Finance minister Arun Jaitley defended inclusion of Chowdary in the Modi cabinet. "They said TDP representative Chowdary has non-performing assets of his company. One of his many companies -- he is a well-known industrialist -- was making losses. One account was in difficulty. The bank restructured it; he is paying back all the instalments (and) has a regular account today," Jaitley told the Times of India. The All India Bank Employees' Association (AIBEA), which released a list of top 50 defaulters in the country, had identified one of Chowdary's companies. The list released in December 2013, shows that Sujana Universal Industries Ltd (erstwhile Sujana Industries) with dues of Rs330 crore was one of the biggest defaulters. Of this, Rs203 crore pertained to a loan taken from Bank of India and Rs127.42 was taken from Central Bank of India. Earlier in July 2014, while releasing list of 1,129 'wilful' bank defaulters whose loan dues were about Rs54,000 crore in Andhra Pradesh alone, P Venkataramaiah, general secretary of Bank Employees Federation of India (BEFI), has said, "Most of the companies mentioned in the list are still being run by politicians, bureaucrats and other influential persons who are blocking the recovery." As of March 2014, Sujana Universal had long-term borrowings of Rs176.62 crore, down 7.63% from Rs191.11 crore in FY2013. However, its short-term borrowing increased by Rs23.14 crore to Rs380.01 crore from Rs356.86 crore during the same period. Sujana Metal Products Ltd has a long term borrowing of Rs940.1 crore as of March 2014, up by Rs135 crore from Rs805.9 crore as on March 2013. Its short-term borrowing also increased to Rs687.36 crore from Rs536.53 crore, same period a year ago. According to Sujana Towers Ltd's annual report for FY2014, this unit was on a borrowing spree. Its long term borrowing has increased by Rs595.04 crore to Rs1,038.64 crore as on March 2014. The company attributed the huge increase in borrowing to working capital term loan (WCTL) and interest on WCTL converted as funded interest term loan (FITL) taken from banks and increase in promoter's contribution as per corporate debt-restructuring (CDR) package it obtained. Its short-term borrowing decreased 6.8% in March 2014 to Rs648.52 crore due to decrease in working capital loans following conversion to WCTL as per the CDR package. Chowdary's Sujana group's three companies, Sujana Universal, Sujana Metal and Sujana Towers listed on the stock exchanges. Their stock prices tell us the story of these three companies. All three have reported losses during FY2014. For the year to end-March, Sujana Metal reported a net loss of Rs20.57 crore from a net profit of Rs41.62 crore while its total revenues fell to Rs3,394.9 crore from Rs4,247.1 crore, same period a year ago. Same is the story of the company's share price. From a high of Rs149.2 in May 2007, Sujana Metal is currently trading at just Rs3.78 on the BSE - a fall of 97%. These companies have been trouble for decades and have been merrily taking advantage of government ownership of banks and complete lack of accountability. In 2003, Sujana Metal, the then Rs412 crore loss making steel re-rolling and casting company, obtained a corporate debt-restructuring (CDR) from its lenders. Lenders led by Industrial Development Bank of India (IDBI), sanctioned an ad hoc debt restructuring facility as well as deferred repayment of principle and interest up to March 2005 for Sujana Metal. Industrial Finance Corporation of India (IFCI), Bank of Baroda, Bank of Rajasthan, IndusInd Bank and the South Indian Bank were part of the lenders who permitted the CDR package to Chowdary's group company. Sujana Universal said its net loss widened to Rs6.30 crore from a profit of Rs3.4 crore during FY2014. During 2013-14, the company's total revenues increased marginally to Rs3,465.75 crore from Rs3,367.66 crore a year ago period. Sujana Universal traded at Rs42.7 in August 2005, its highest over the past nine years. Currently, it is trading at about Rs2.55 on the BSE a fall of 93% over nine years. During the year ending March 2014, Sujana Towers' net profit tumbled to Rs2.66 crore from Rs6.56 crore, while its total revenues declined to Rs1,823.5 crore compared with Rs1,827.1 crore in the 12-months to end-March 2013. Sujana Towers' share price movement is also not different from its two group companies. III/IV. http://indianexpress.com/article/india/india-others/rs-50000-to-1-14-crore-to-0-bjp-mp-giriraj-singh-now-says-all-cash-his-cousins/ Rs 50,000 to 1.14 crore to 0: BJP MP Giriraj Singh now says all cash his cousin's Written by Santosh Singh | Patna | Posted: July 12, 2014 4:59 pm | Updated: July 13, 2014 10:33 am Hard-pressed to explain how the "Rs 50,000" stolen from his house had ballooned into "Rs 1.14 crore" recovered from the thief involved, BJP MP Giriraj Singh on Saturday came up with a new figure: his cousin. The entire cash found with the thief, he told police in Patna, belonged to this cousin with "the flourishing real estate business" in Nagpur, Rakesh Kumar Singh. Snipped IV. http://pressreleasewatch.blogspot.in/2014/08/alleged-misconduct-of-home-minister.html On January 2008, Sujana Towers traded at Rs354.3 and tumbled to a low of Rs19.4 in February 2009. In April 2014, Sujana Tower touched its lowest level of Rs7.46 over the six years. At present, the scrip is trading at around Rs16.5 level, a fall of 95% from the peak. -- Peace Is Doable -- You received this message because you are subscribed to the Google Groups "Green Youth Movement" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send an email to [email protected]. Visit this group at http://groups.google.com/group/greenyouth. For more options, visit https://groups.google.com/d/optout.
