http://scroll.in/article/807656/the-strange-case-of-a-wilful-defaulter-whose-promoter-flaunted-his-proximity-to-the-prime-minister
COMPANY DEBT The strange case of a wilful defaulter whose promoter flaunted his proximity to the prime minister Loans given by the Bank of Maharashtra have been called into question. 2 hours ago Updated 2 hours ago Dhirendra K Jha While Vijay Mallya and Kingfisher Airlines continue to remain in the news over the alleged Rs 9,000 crore owed to public sector banks, not much has been heard about Rs 1.14 lakh crore of bad loans written off by 29 public sector banks involving numerous defaulters in the last three years between financial years 2013 and 2015, much more than they had done in the preceding nine years. On April 23, Congress leader Digvijay Singh wrote a five-page letter with 17 annexes to Finance Minister Arun Jaitley, singling out the case of one such wilful defaulter: “I have for reference one case in which it is revealed beyond doubt that the RBI [Reserve Bank of India] as also the government and its extended arms like the CBI [Central Bureau of Investigation] and CVC [Central Vigilance Commission] are busy in hushing up the fraud perpetrated by one corporate M/s Siddhi Vinayak Logistics Ltd and through its group companies from Surat for an amount of Rs 1,045 crore.” While Singh’s letter goes on to make various other allegations, the most sensational happens to be a letter attached as Annexure 9, purportedly written by “RC Baids”, "Founder, Siddhi Vinayak Logistics Limited” on September 16, 2014 to Bank of Maharashtra, Pune: Snipped -- 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 https://groups.google.com/group/greenyouth. For more options, visit https://groups.google.com/d/optout.
