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रघुराम राजन के पात्र ने UPA के खेल की कलई खोली

September 12, 2018/0 Comments/in DELHI, MAHARASHTRA, NATIONAL, OPINION, POLITICS, STATES, WORLD/by Demokratic Front Bureau


राजन ने कहा है, वर्तमान बैड लोन (एनपीए) संकट के बीज 2006-08 के बीच ही बोए गए थे. तब यूपीए की कार्यप्रणाली ने भारत की बैंकिंग संरचना में एनपीए वृद्धि की. असल में, मोदी ने एक बार एक उपमा का इस्तेमाल किया था, ‘फोन बैंकिंग’


मुरली मनोहर जोशी की अध्यक्षता वाली संसदीय समिति को भेजे रघुराम राजन के पात्र  पर राजनीतिक विवाद खड़ा हो गया है. इस पत्र में कहा गया है कि बैंकों की बढ़ती एनपीए समस्या को इस तरह से डिजाइन किया गया है, ताकि मूल समस्या से ध्यान हट जाए और सिर्फ निंदात्मक प्रचार को बढ़ावा मिले.

राजनीतिक चश्मे से इतर देखें तो राजन का पत्र स्पष्ट रूप से यूपीए-युग की उन गलतियों को बताता है, जिसने देश में सबसे बड़े बैड लोन (एनपीए) समस्या को जन्म दिया. राजन के शब्दों में ही, ‘बैंक अपने हाथों में चेकबुक लहराते हुए प्रमोटर्स का पीछा करते थे और उनसे चेकबुक में कोई भी राशि भरने की गुहार लगाते थे.’

यही वह समय था, जब यह समस्या धीरे-धीरे एक स्वीकार्य प्रणालीगत बीमारी के तौर पर विकसित होती चली गई. किसी ने भी (नियामक समेत) लंबे समय तक इस पर सवाल करने की हिम्मत नहीं की. पेशेवर उत्तरदायित्व की अवधारणा हास्यास्पद स्थिति में पहुंच गई. अंत में, यह समस्या खुद बैंकों के लिए ही एक बुरा सपना साबित हुआ.

तथ्यों को देखते हुए, यह विडंबना ही है कि कॉर्पोरेट ऋण धोखाधड़ी और एनपीए समस्या के लिए कांग्रेस आज मोदी को दोषी ठहरा रही है. क्योंकि यह सब यूपीए 1 और 2 के दौरान घटी घटनाएं है. कथित धोखाधड़ी करने वालों को तत्कालीन राजनीतिक नेतृत्व ने अपने आशीर्वाद के साथ दिल से स्वागत किया था. चाहे वह विजय माल्या हो, नीरव मोदी हो, मेहुल चोकसी हो या फिर और कोई नाम. इनमें से किसी को भी अभी तक पकड़ कर सलाखों के पीछे नहीं भेजा जा सका है. मोदी के आने के बाद भी ऐसा नहीं हो सका है. लेकिन यह कह कर कांग्रेस अपनी गलतियों से पल्ला नहीं झाड़ सकती, क्योंकि यह मुद्दा कांग्रेस की ही देन है.

फोन बैंकिंग युग

जैसा कि राजन ने कहा है, वर्तमान बैड लोन (एनपीए) संकट के बीज 2006-08 के बीच ही बोए गए थे. तब यूपीए की कार्यप्रणाली ने भारत की बैंकिंग संरचना में एनपीए वृद्धि की. असल में, मोदी ने एक बार एक उपमा का इस्तेमाल किया था, ‘फोन बैंकिंग’. एनपीए के सन्दर्भ में, यूपीए युग की व्याख्या करने के लिए यह उपमा काफी काम आती है. उन दिनों बैंकों के लिए नॉर्थ ब्लॉक या अन्य छोटे-बड़े नेताओं के सहयोगियों की तरफ से फोन कॉल आना असामान्य नहीं था. ऐसे फोन कॉल के जरिए बैंकों को एक विशिष्ट प्रमोटर या समूह को ऋण देने के लिए निर्देश दिए जाते थे. बैंकों की 70 फीसदी संपत्ति सरकारी नियंत्रण के तहत थी. ऐसे में यूपीए 1 और 2 के दौरान, बैंकिंग प्रणाली अनौपचारिक आधिकारिक निर्देशों का पालन करते थे. यानी, फोन कॉल पर ही बैंक लोन दे देते थे.

इस बीमारी की शुरुआत और इसका एक विकराल समस्या के रूप में तब्दील हो जाना, सबकुछ कांग्रेस सरकार की देखरेख में हुआ. इस समस्या का समाधान निकाला जा सकता था, लेकिन किसी ने कोई कार्रवाई नहीं की. क्योंकि सरकार द्वारा संचालित बैंक राजनेताओं के लिए पिग्गी बैंक माने जाते थे. कुछ बैंकरों को रिश्वत तक मिले. यहां तक कि कभी-कभी घड़ी या सोने के आभूषण जैसे छोटे रिश्वत भी, जबकि अन्य को सेवानिवृत्ति के बाद दिए जाने वाले फायदे के वादे भी मिले.

असल में, सार्वजनिक क्षेत्र के बैंकरों के लिए अयोग्य उधारकर्ताओं के लिए अपने दरवाजे खोलने के लिए किसी राजनीतिक झुकाव या दबाव की भी जरूरत नहीं थी. वे वैसे भी इस काम के लिए तैयार थे. जैसा कि राजन ने कहा है कि उच्च आर्थिक विकास वाले चरण ने छुपे हुए भविष्य जोखिमों के बारे में अधिकतर बैंकरों को अन्धा बना दिया था. उन्होंने लोन देते वक्त केवल कंपनियों के पिछले प्रदर्शन को देखा और भविष्य में भी बेहतर प्रदर्शन की ही उम्मीद रखी.

उन्होंने उम्मीद की कि दो अंकों वाला आर्थिक विकास जारी रहने वाला है और ऋण चुकाने के लिए पर्याप्त कैश फ्लो बना रहेगा. कई मामलों में, अधिकांश बैंकरों ने लोन स्वीकृत करते समय केवल नामों को देखा. जैसे, विजय माल्या एक बड़ा उदाहरण है. मुझे याद है. किंगफिशर ऋण धोखाधड़ी की जब खबर आई थी, तब एसबीआई के साथ कर चुके एक बैंकर ने मुझसे कहा था,’माल्या जैसे व्यक्ति को आखिर कौन ‘ना’ कह सकता था?’

याद रखें, यह सबकुछ तब हुआ जब एयरलाइन व्यवसाय के बारे में थोड़ा-बहुत जानने वाले को भी यह पता था कि किंगफिशर का कोई भविष्य नहीं है और इसकी वित्तीय हालत खराब है.

बैंकर, ब्लैंक चेक और प्रमोटर

बैंकरों ने जमानत सूची में ‘मित्रता’ और ‘ब्रांड नेम’ को भी जगह दी. माल्या की निजी गारंटी कुछ हजार करोड़ का लोन देने के लिए पर्याप्त थी. इसके अलावा, सरकार के समक्ष बड़ा लोन बुक दिखाने के लिए बैंकरों के बीच अंधी प्रतिस्पर्धा थी. प्रमुख समाचार पत्रों के मास्टहेड पर कुल व्यावसायिक आंकड़े दिखाना तब बैंकों के लिए एक आम बात थी (हालांकि इससे बैंक व्यापार की गुणवत्ता का कोई संकेत नहीं मिलता था, बल्कि एक आकर्षक आंकड़ा दिखाने की कोशिश भारत होती थी). प्रत्येक बैंकर कॉर्पोरेट ऋण का एक बड़ा हिस्सा चाहता था. उधार देने के गोल्डन रूल्स को पीछे कर दिया गया और वर्षों तक लोन देने के लिए आवश्यक समझदारी को ताक पर रख दिया गया. इस सबका प्रमाण एक प्रमोटर की उन बातों से मिलता है, जो उसने राजन से कही थी. उस प्रमोटर ने कहा था कि कैसे बैंकर ब्लैंक चेक ले कर उनका पीछा कर रहे थे. पहले कांग्रेस ने इस तरह की गंभीर चूक की अनुमति दी और बैंकिंग एनपीए संकट को बढ़ने दिया. अब कांग्रेस-यूपीए द्वारा इसका दोष मोदी पर मढ़ना विडंबनापूर्ण नहीं तो और क्या है.

बैड लोन मतलब बैड लोन

इससे भी हास्यास्पद यह है कि कांग्रेस एनपीए में तीव्र बढ़ोत्तरी के लिए मोदी शासन को जिम्मेदार बता रही है. एनपीए समस्या पर गलतफहमी फैलाने या भ्रमित रणनीति का यह एक और गंभीर मामला है. एनपीए तेजी से इसलिए बढ़ी क्योंकि एक आलसी और गैर जिम्मेदार बैंकिंग प्रणाली के एक दशक बाद, बैंकों ने एनपीए की समस्या को एक समस्या माना और बैड लोन को बैड लोन कहना और मानना शुरू किया. अपने जख्म को छुपाने के लिए एक अच्छा पोशाक पहन लेने से आप स्वस्थ नहीं बन जाएंगे.

मोदी सरकार के समर्थन से और आरबीआई गवर्नर रघुराम राजन के साथ मिल कर बैंकों ने समस्या समाधान की दिशा में काम करना शुरू किया. 2014-15 में तनावग्रस्त परिसंपत्तियों की शुरुआती पहचान पर एक पेपर पेश किया गया. बैंकों के लिए एनपीए घोषित करने के लिए समयसीमा तय की गई और इस तरह बैड लोन की सफाई प्रक्रिया शुरू हुई. बेशक, ये कदम चौंकाने वाले थे. यह एक गंभीर किस्म की सर्जरी थी. लेकिन यह बुरी तरह बीमार बैंकिंग प्रणाली के लिए बहुत जरूरी था. इन वजहों से ही एनपीए में अचानक बढ़ोतरी दिखाई देने लगी. लेकिन, अर्थव्यवस्था के लिए सफाई का यह काम कभी न कभी तो होना ही था. इसलिए, राहुल गांधी और पी चिदंबरम द्वारा एनपीए बढ़ोतरी के लिए मोदी को दोषी ठहराना अतार्किक और अजीब है.

असल में, मोदी शासन के दौरान ही दिवालियापन कानून बना और कॉर्पोरेट ऋण धोखाधड़ी एक केंद्रीय मुद्दा बना. यह सब इसलिए हुआ, ताकि बैंकिंग सेक्टर की दीर्घकालिक बीमारी को ठीक किया जा सके. मौजूदा सरकार ने समस्या को छिपाने और एक विशिष्ट नौकरशाही रवैया नहीं अपनाया बल्कि समस्या का दृढ़ता से सामना किया. बैड लोन वसूली और तनावग्रस्त संपत्तियों की पहचान के लिए तेज प्रयास किए गए. कॉर्पोरेट ऋण का प्रबंधन सरकारी आदेशों के जरिए नहीं हो सकता था. ये काम बैंक द्वारा जांच, अदालतों और आईबीसी अदालतों के माध्यम से ही किया जा सकता था.

एनपीए पर संसदीय समिति को राजन द्वारा भेजा गया पत्र असल में यूपीए-युग के बैड लोन निर्माण कार्यक्रम का एक निंदा पत्र है. दूसरी तरफ, एनपीए समस्या के लिए मोदी को दोषी ठहराना, कांग्रेस पार्टी द्वारा फैलाया जा रहा भ्रम और अतार्किक बयानबाजी भर है. राजन का पत्र देश की आंख खोलने वाला एक उपकरण है. यह पत्र बताता है कि कैसे देश की अर्थव्यवस्था को सबसे बुरे ऋण संकट में धकेल दिया गया था और यह भी कि कैसे इस गलती को दोहराने से रोका जा सकता है

https://demokraticfront.com/wp-content/uploads/2018/09/manmohan-rahul-sonia.jpg 675 1200 Demokratic Front Bureau https://demokraticfront.com/wp-content/uploads/2018/05/LogoMakr_7bb8CP.png Demokratic Front Bureau2018-09-12 18:50:042018-09-12 18:50:04रघुराम राजन के पात्र ने UPA के खेल की कलई खोली

The rupee moved in wide range marked with a 102-paise swing against the US dollar

September 12, 2018/0 Comments/in BUSINESS, DELHI, MAHARASHTRA, NATIONAL, POLITICS, STATES, WORLD/by Demokratic Front Bureau


The rupee closed sharply higher on Wednesday, cooling off from all time lows registered in recent sessions. The rupee rose 51 paise against the greenback to settle at 72.19 for the day, marking its biggest single-day rise since May 25. Suspected intervention by the Reserve Bank of India and weakness in the dollar overseas led to a rebound in the currency, say analysts. The Finance Ministry said the government and the central bank “will do everything” to ensure that rupee does not slide to “unreasonable levels”. However, the rupee is still down more than 13 per cent against the US dollar so far this year, cementing its position as the worst performing Asian currency.

Here are 10 things to know:

1. The rupee moved in wide range marked with a 102-paise swing against the US dollar during Wednesday’s session amid choppy trade.

2. At the day’s lowest point, the rupee registered a fresh life-time low of 72.92 against the American currency.

3. Talk of possible fiscal and monetary steps to stabilise the currency and comments from a government official that the slide was overdone led to the recovery, news agency Reuters reported.

4. There was no fundamental rationale for the rupee to depreciate to the low levels of the previous session, Economic Affairs Secretary Subhash Garg said on microblogging site Twitter.

“It (rupee fall) reflected overreaction of market operators. Government and RBI will do everything to ensure that rupee does not slide to unreasonable levels. Today’s correction seems to reflect that realisation,” he said.

5. The comments further propped up the currency as intermittent dollar sales by the Reserve Bank of India through state-run banks continued to underpin sentiment, news agency Reuters cited dealers as saying.

6. “There has been talk of a rate hike since yesterday,” the agency cited a senior trader at a private bank as saying. “The comments today have given some hope to the market that the RBI may do something, but the broader trend for the rupee continues to be downward.”

7. Analysts expect the rupee to continue in a weak trade going forward.

8. “The current weakness in the rupee requires a combination of policy level and market level intervention. Market level intervention alone will only address the volatility but is not likely to lead to any reversal of the trend,” said Salil Datar, CEO and executive director, Essel Finance VKC Forex.

9. Consumer inflation eased to 3.69 per cent in August, below the Reserve Bank of India’s medium-term target of 4 per cent, according to official data released post-market hours on Wednesday.

10. The markets will be closed on Thursday for the Ganesh Chaturthi festival

https://demokraticfront.com/wp-content/uploads/2018/09/rupee-vs-dollar-1535945959-1535948470.jpg 476 715 Demokratic Front Bureau https://demokraticfront.com/wp-content/uploads/2018/05/LogoMakr_7bb8CP.png Demokratic Front Bureau2018-09-12 18:31:512018-09-12 18:31:51The rupee moved in wide range marked with a 102-paise swing against the US dollar

Supreme Court to review its verdict in Navjot Sidhu road rage case

September 12, 2018/0 Comments/in CHANDIGARH, DELHI, MOHALI, NATIONAL, POLITICS, PUNJAB, STATES, TRICITY/by Demokratic Front Bureau

Punjab Minister Navjot Singh Sidhu is offered sweets in Chandigarh on May 15, 2018 after the Supreme Court acquitted him of culpable homicide in a 1988 road rage case.


The Punjab Tourism Minister may face an one-year prison sentence if the court decides to swap the ₹1000 fine for a jail term under Section 323 IPC.


In a setback for Punjab Tourism Minister Navjot Singh Sidhu, the Supreme Court has decided to review its own judgment letting him off with a ₹1000 fine in a 30-year-old fatal road rage case.

The Supreme Court had on May 15 acquitted Mr. Sidhu of culpable homicide in the case while finding him guilty of the lesser offence of voluntarily causing hurt under Section 323 of the Indian Penal Code.

The judgment, written by a Bench led by Justice J. Chelameswar (now retired), reasoned that the crime was 30 years old and there was no former enmity between Mr. Sidhu and his victim, Gurnam Singh. It had even said that roadside brawls were a “very common sight in this country”.

Justice Chelameswar, who had authored the verdict, found that a payment of Rs. 1000 by the Punjab Minister to the victim’s family would “meet the ends of justice”.

Aggrieved by the judgment, Singh’s family decided to return to the Supreme Court for a rare remedy — a review of its own judgment, that too, through an open court hearing.

A Bench of Justices A.M. Khanwilkar and Sanjay Kishan Kaul decided there was merit in the family’s plea. The Bench found that May 15 judgment did indeed require a relook. Incidentally, Justice Kaul was the puisne judge and part of the Bench led by Justice Chelameswar which had authored the May 15 judgment.

The Review Bench, now led by Justice Khanwilkar, admitted the family’s petition and issued notice to Mr. Sidhu to respond on why the quantum of his punishment should not be changed.

“Issue notice restricted to quantum of sentence qua respondent number 1 — Navjot Singh Sidhu,” the Review Bench held in an order dated September 11 published on September 12.

Mr. Sidhu may face a prison sentence of one year if the court decides to swap the Rs.1000 fine for a jail term under Section 323 IPC.

On May 15, the Bench led by Justice Chelameswar, in a 46-page judgment, had found that the prosecution could not prove that Mr. Sidhu caused the death of Singh in 1988 after a roadside brawl on the right of way.

Though the Supreme Court conceded that Mr. Sidhu had given a single blow to the man’s head, it said that medical evidence was “absolutely uncertain” about the cause of Singh’s death shortly after the run-in.

The Supreme Court had set aside the Punjab and Haryana High Court, which had found Mr. Sidhu and his co-accused guilty of culpable homicide not amounting to murder on the ground that the blow to the head caused a subdural haemorrhage. The Supreme Court had dismissed death by subdural haemorrhage as “pure conjecture”.

The court had said “no doubt that there are lapses in the investigation” but added that the “law of this country is not that people are convicted of offences on the basis of doubts.”

https://demokraticfront.com/wp-content/uploads/2018/09/Sidhu.jpg 468 660 Demokratic Front Bureau https://demokraticfront.com/wp-content/uploads/2018/05/LogoMakr_7bb8CP.png Demokratic Front Bureau2018-09-12 18:20:192018-09-12 18:20:19Supreme Court to review its verdict in Navjot Sidhu road rage case

Vijay Mallya said that the controversy over his claim of meeting Finance Minister Arun Jaitley has been “created by the media”

September 12, 2018/0 Comments/in BUSINESS, NATIONAL, POLITICS, STATES, WORLD/by Demokratic Front Bureau


Mallya’s claim of meeting the Finance Minister before fleeing triggered a controversy in India. Arun Jaitley rebuffed Mallya’s claim stating that he had “never given him (Mallya) any appointment to meet me” since 2014.


London, Delhi, September 12,2018:

Emerging from Westminster Magistrates’ Court, which will be giving its verdict in his extradition case on 10 December, fugitive bank fraud accused Vijay Mallya said that the controversy over his claim of meeting Finance Minister Arun Jaitley has been “created by the media”.

“I was standing here (outside the court) during lunch break. I said I happened to meet Mr Jaitley in Parliament and I told him that I was leaving for London and that I want to settle with the banks and would he please facilitate the discussions. I did not have any formal meetings scheduled with him. I met him often enough in Parliament, in the House and in Central Hall, and I have expressed to him my willingness to settle (the dues) on many an occasion,” he said.

“I flew to London when I was on my way to Geneva where I had a long-scheduled meeting…Those were the circumstances under which I left India,” he reiterated.

Mallya’s claim of meeting the Finance Minister before fleeing triggered a controversy in India. Arun Jaitley rebuffed Mallya’s claim stating that he had “never given him (Mallya) any appointment to meet me” since 2014.

In a statement issued on Wednesday, Jaitley said that Mallya “misused” his position as an MP by paced up to catch up with him when the FM was walking out of the House to go to his room.

“He paced up to catch up with me and while walking uttered a sentence that ‘I am making an offer of settlement’. Having been fully briefed about his earlier ‘bluff offers’, without allowing him to proceed with the conversation, I curtly told him ‘there was no point talking to me and he must make offers to his bankers’,” said Jaitley.

“I did not even receive the papers that he was holding in his hand. Besides this one sentence exchange where he misused his privilege as a Rajya Sabha Member, in order to further his commercial interest as a bank debtor, there is no question of my having ever given him an appointment to meet me,” the Finance Minister said.

But the Opposition parties latched onto Mallya’s claim to accuse the government of allowing fugitives to flee and the loot to happen.

“As with the Rafale scam and Choksi scam, this latest revelation by Mallya puts Modi govt in the dock. It is not the finance minister alone, we cannot be sure what other facts are being hidden even now,” said CPI(M) general secretary Sitaram Yechury.

“Whatever denials the government may issue, it confirms that all those who looted public money by taking loans from banks and absconded, not one of them happened to leave the country without knowledge of the government,” he was quoted as saying by ANI.

“They (the government) have to own up to the fact that they allowed this loot to happen and the fact that they are allowing this loot to happen, more are looting,” Yechury added.

Congress leader Abhishek Manu Singhvi said that his party has been repeatedly raising the issue that the government allowed bank fraud accused such as Mallya, Nirav Modi and Mehul Choksi to flee.

Delhi Chief Minister Arvind Kejriwal described Mallya’s claim as “absolutely shocking” and demanded to know why the finance minister “hid the information till now”.

Meanwhile, Chief Magistrate Emma Arbuthnot of the Westminster Magistrates’ Court reserved the judgment on whether to extradite the multi-crore bank fraud accused to India or not. The court will be giving its verdict on 10 December.

Mallya, who fled India in March 2016, reiterated that the allegations made against him are “media created”.

Commenting on the case, Mallya said that the prosecution has argued their case and it is now for the judges to decide.

According to NDTV, the prosecution said that the 62-year-old has no intention of honouring the guarantees he had given while taking loans for his now defunct Kingfisher Airlines.

https://demokraticfront.com/wp-content/uploads/2018/09/Vijay-Mallya-Court.jpg 670 1200 Demokratic Front Bureau https://demokraticfront.com/wp-content/uploads/2018/05/LogoMakr_7bb8CP.png Demokratic Front Bureau2018-09-12 18:13:072018-09-12 18:13:07Vijay Mallya said that the controversy over his claim of meeting Finance Minister Arun Jaitley has been “created by the media”

Jaitley said that he has not met the 62-year-old former Kingfisher Airline boss since 2014

September 12, 2018/0 Comments/in DELHI, NATIONAL, POLITICS, STATES, WORLD/by Demokratic Front Bureau


The statement from the Finance Minister came after Mallya claimed that he met Jaitley before fleeing out of the country and offered to settle the amount he owed to the banks.

Jaitley said that he has not met the 62-year-old former Kingfisher Airline boss since 2014 but added that Mallya had “misused” his privilege of being a Member of the Rajya Sabha on one occasion.


Delhi, 12 September,2018:

Finance Minister Arun Jaitley rejected Vijay Mallya’s claim that he had met the absconding bank fraud accused before he fled the nation in March 2016.

In a statement issued on Facebook, the Finance Minister said that Mallya’s statement is “factually false”.

Jaitley said that he has not met the 62-year-old former Kingfisher Airline boss since 2014 but added that Mallya had “misused” his privilege of being a Member of the Rajya Sabha on one occasion.

“Since 2014, I have never given him (Mallya) any appointment to meet me and the question of his having met me does not arise,” said Jaitley.

Recalling the occasion when Mallya “misused” his position as an MP, Jaitley wrote that the fraud accused had paced up to catch up with him when the FM was walking out of the House to go to his room.

“He paced up to catch up with me and while walking uttered a sentence that ‘I am making an offer of settlement’. Having been fully briefed about his earlier ‘bluff offers’, without allowing him to proceed with the conversation, I curtly told him ‘there was no point talking to me and he must make offers to his bankers’,” said Jaitley.

“I did not even receive the papers that he was holding in his hand. Besides this one sentence exchange where he misused his privilege as a Rajya Sabha Member, in order to further his commercial interest as a bank debtor, there is no question of my having ever given him an appointment to meet me,” the Finance Minister said.

The statement from the Finance Minister came minutes after Mallya claimed that met Jaitley before fleeing out of the country and offered to settle the amount he owed to the banks.

“I met the finance minster to settle matters before I left. The banks had filed objections to my settlement letters,” Mallya said outside the Westminster Magistrates’ Court where he had come for a hearing in his extradition case.

Mallya added that he had made a “comprehensive settlement” offer before the Karnataka High Court that will help in paying off all his dues.

In 2016, Arun Jaitley had said that there is a legal process to stop somebody from going abroad.

“Either your passport is impounded or there is an order of a court. Otherwise, nobody can stop you. Banks went to court for seeking an order. In this anticipation, he (Mallya) left earlier,” Jaitley had said, adding that “it would have been better had banks started the process earlier.”

The liquor baron is facing money laundering charges in multi-crore fraud case in India, which wants him extradited from the UK where he fled to in March 2016.

Dressed in a suit and wearing his shades, Mallya appeared relaxed even as the judge is expected to review a video of the Mumbai jail cell prepared by the Indian authorities for the embattled liquor tycoon.

Mallya has been on bail on an extradition warrant since his arrest in April last year, responded to the swarm of reporters gathered outside the court in his characteristic manner, saying the “courts will decide”.

“As far as I am concerned, I have. I hope the honourable judges will consider it favourably; everybody gets paid off and I guess that’s the primary objective,” said Mallya, who is fighting extradition to India on charges of fraud and money laundering amounting to around Rs 9,000 crores.

The extradition trial, which opened at the London court on 4 December last year, is aimed at laying out a prima facie case of fraud against Mallya.

It also seeks to prove there are no “bars to extradition” and that the tycoon is assured a fair trial in India over his now-defunct Kingfisher Airlines’ alleged default of over Rs 9,000 crores in loans from a consortium of Indian banks.

https://demokraticfront.com/wp-content/uploads/2018/09/mallya-759.jpg 422 759 Demokratic Front Bureau https://demokraticfront.com/wp-content/uploads/2018/05/LogoMakr_7bb8CP.png Demokratic Front Bureau2018-09-12 18:06:252018-09-12 18:06:25Jaitley said that he has not met the 62-year-old former Kingfisher Airline boss since 2014

Opposition wants BJP to come clear over Mallya’s statement

September 12, 2018/0 Comments/in BUSINESS, DELHI, NATIONAL, POLITICS, STATES, WORLD/by Demokratic Front Bureau


Opposition parties on Wednesday picked on the Bharatiya Janata Party (BJP)-led NDA government at the Centre after Vijay Mallya claimed that he met Finance Minister Arun Jaitley before fleeing India.


Delhi, September 12, 2018:

Opposition parties on Wednesday picked on the Bharatiya Janata Party (BJP)-led NDA government at the Centre after Vijay Mallya claimed that he met Finance Minister Arun Jaitley before fleeing India.

Speaking to reporters outside the Westminster Magistrates’ Court, where he had come for a hearing in his extradition case, the absconding bank fraud accused said that he offered to settle the amount he owed to the banks in his “meeting” with Jaitley.

Even though the Finance Minister refuted the claim stating that he never gave any appointment to Mallya, opposition parties took the opportunity to accuse the government of allowing the loot to happen.

Communist Party of India (Marxist) general secretary Sitaram Yechury said that Mallya’s revelation is “a fact that all of us had known earlier”.

“Whatever denials the government may issue, it confirms that all those who looted public money by taking loans from banks and absconded, not one of them happened to leave the country without knowledge of the government,” he was quoted as saying by ANI.

“They (the government) have to own up to the fact that they allowed this loot to happen and the fact that they are allowing this loot to happen, more are looting,” he added.

Congress leader Abhishek Manu Singhvi said that his party has been repeatedly raising the issue that the government allowed bank fraud accused such as Mallya, Nirav Modi and Mehul Choksi to flee.

“Congress has been repeatedly asserting for last over 18 months that not only Vijay Mallya but Nirav Modi, Choksi and many others have been allowed with impunity,” ANI quoted him as saying.

In response to Congress’ accusations, Jaitley said that the party has made “telling lies its brand of politics”.

Delhi Chief Minister Arvind Kejriwal described Mallya’s claim as “absolutely shocking”.

In a series of tweets, Kejriwal asked, “Why did the finance minister hide this information till now? Absolutely shocking.”

“PM Modi meets Neerav Modi before he flees the country. FM meets Vijay Mallya before he flees India. What transpired in these meetings? People want to know (sic),” Kejriwal said.

Former BJP leader and Union Minister in the Vajpayee government Yashwant Sinha said that the entire BJP leadership should “come clean” on their “relations” with the fraud accused.

“Not only the finance minister, the entire BJP must come clean on its relations with Vijay Mallya,” he wrote on Twitter.

Earlier today, Mallya said, “I left India because I had a scheduled meeting in Geneva. Before leaving I met the finance minister and offered to settle (the issue with the banks).”

Reacting to his allegation, Jaitley said that Mallya’s statement is “factually false”.

Jaitley said that he has not met the 62-year-old former Kingfisher Airline boss since 2014 but added that Mallya had “misused” his privilege of being a Member of the Rajya Sabha on one occasion.

“Since 2014, I have never given him (Mallya) any appointment to meet me and the question of his having met me does not arise,” said Jaitley.

Recalling the occasion when Mallya “misused” his position as an MP, Jaitley wrote that the fraud accused had paced up to catch up with him when the FM was walking out of the House to go to his room.

“He paced up to catch up with me and while walking uttered a sentence that ‘I am making an offer of settlement’. Having been fully briefed about his earlier ‘bluff offers’, without allowing him to proceed with the conversation, I curtly told him ‘there was no point talking to me and he must make offers to his bankers’,” said Jaitley.

https://demokraticfront.com/wp-content/uploads/2018/09/Vijay-Mallya-Bank-Fraud.jpg 669 1200 Demokratic Front Bureau https://demokraticfront.com/wp-content/uploads/2018/05/LogoMakr_7bb8CP.png Demokratic Front Bureau2018-09-12 17:59:562018-09-12 17:59:56Opposition wants BJP to come clear over Mallya’s statement

Met Jaitley before leaving India: Mallya

September 12, 2018/0 Comments/in BUSINESS, DELHI, NATIONAL, POLITICS, STATES, WORLD/by Demokratic Front Bureau

Vijay Mallya speaks to members of the media as he arrives to appear at Westminster Magistrates Court in central London on September 12, 2018, to attend the closing arguments in his extradition hearing.


Absconding bank fraud accused Vijay Mallya dropped a bomb on Wednesday by claiming that he met Finance Minister Arun Jaitley before fleeing out of the country and offered to settle the amount he owed to the banks.


London, September 12, 2018:

Absconding bank fraud accused Vijay Mallya dropped a bomb on Wednesday by claiming that he met Finance Minister Arun Jaitley before fleeing out of the country and offered to settle the amount he owed to the banks.

“I met the finance minster to settle matters before I left. The banks had filed objections to my settlement letters,” Mallya said outside the Westminster Magistrates’ Court where he had come for a hearing in his extradition case.

Mallya added that he had made a “comprehensive settlement” offer before the Karnataka High Court that will help in paying off all his dues.

The revelation puts the Bharatiya Janata Party (BJP) government at the Centre on the backfoot. At the time of writing, the Finance Minister or any member of the government was yet to respond to the allegation.

In 2016, Arun Jaitley had said that there is a legal process to stop somebody from going abroad.

“Either your passport is impounded or there is an order of a court. Otherwise, nobody can stop you. Banks went to court for seeking an order. In this anticipation, he (Mallya) left earlier,” Jaitley had said, adding that “it would have been better had banks started the process earlier.”

The liquor baron is facing money laundering charges in multi-crore fraud case in India, which wants him extradited from the UK where he fled to in March 2016.

Dressed in a suit and wearing his shades, Mallya appeared relaxed even as the judge is expected to review a video of the Mumbai jail cell prepared by the Indian authorities for the embattled liquor tycoon.

The 62-year-old former Kingfisher Airline boss, who has been on bail on an extradition warrant since his arrest in April last year, responded to the swarm of reporters gathered outside the court in his characteristic manner, saying the “courts will decide”.

“As far as I am concerned, I have. I hope the honourable judges will consider it favourably; everybody gets paid off and I guess that’s the primary objective,” said Mallya, who is fighting extradition to India on charges of fraud and money laundering amounting to around Rs 9,000 crores.

According to Mallya, he and the United Breweries Group (UBHL) have filed an application in the Karnataka High Court on 22 June 2018, setting out available assets of approximately Rs 13,900 crores. They have asked the court for permission to allow the sale of assets under judicial supervision and repay creditors, including the Public Sector Banks such amounts as may be directed and determined by the Court.

The extradition trial, which opened at the London court on 4 December last year, is aimed at laying out a prima facie case of fraud against Mallya.

It also seeks to prove there are no “bars to extradition” and that the tycoon is assured a fair trial in India over his now-defunct Kingfisher Airlines’ alleged default of over Rs 9,000 crores in loans from a consortium of Indian banks.

In separate legal proceedings, the businessman lost his appeal in the UK’s Court of Appeal against a High Court order in favour of 13 Indian banks to recover funds amounting to nearly 1.145 billion pounds.

The High Court order in favour of the State Bank of India (SBI) led consortium had reinforced a worldwide freezing order against Mallya’s assets. It was followed by a related enforcement order in June, granting permission to the UK High Court Enforcement Officer to enter Mallya’s properties in Hertfordshire, near London, where he has been based since he left India in March 2016.

https://demokraticfront.com/wp-content/uploads/2018/09/Vijay-Mallya.jpg 670 1200 Demokratic Front Bureau https://demokraticfront.com/wp-content/uploads/2018/05/LogoMakr_7bb8CP.png Demokratic Front Bureau2018-09-12 17:53:182018-09-12 17:53:18Met Jaitley before leaving India: Mallya

सेक्टर 11 के हुक्का बार पर रेड

September 12, 2018/0 Comments/in CHANDIGARH, HARYANA, MOHALI, PANCHKULA, PUNJAB, STATES, TRICITY/by Demokratic Front Bureau

Photo by R K

आज सेक्टर 11 के बैकयार्ड कैफ़े में ड्रग्स और हेल्थ डिपार्टमेंट कि रेड हुई. हुक्का, पनीर इत्यादि के सैंपल भरे गए. यह सब काम पुलिस कि उपस्थिति में किया गया.

Photo by R K

 

 

Photo by R K

 

 

Photo by R K

 

Photo by R K

 

Photo by R K

 

 

Photo by R K

https://demokraticfront.com/wp-content/uploads/2018/09/WhatsApp-Image-2018-09-12-at-7.16.09-PM.jpeg 780 1040 Demokratic Front Bureau https://demokraticfront.com/wp-content/uploads/2018/05/LogoMakr_7bb8CP.png Demokratic Front Bureau2018-09-12 15:26:512018-09-12 15:26:51सेक्टर 11 के हुक्का बार पर रेड

सत्ता में रहते हुए पागल है विज़ साहब ,सत्ता से जाने के बाद क्या हाल होगा: भुक्कल

September 12, 2018/0 Comments/in CHANDIGARH, HARYANA, PANCHKULA, POLITICS, STATES, TRICITY/by Demokratic Front Bureau

अनिल विज द्वारा विधानसभा में हुड्डा को पागल कहे जाने पर भी बोली भुक्कल कहा,”सत्ता में रहते हुए पागल है विज़ साहब ,सत्ता से जाने के बाद क्या हाल होगा”?

गीता भुक्कल यहीं नहीं रुकीं उन्होंने आगे पूछा ,”विधानसभा में नशा करके आते है क्या विज साहब”
भुक्कल ने आगे कहा,” विज को शोले का गब्बर बनने का ज्यादा शौक चढ़ा है, लेकिन विज़ साहब भूल रहे है शोले के गब्बर का क्या हाल हुआ था.”

फिर गीता भुक्कल ने मुख्यमंत्री खट्टर पर निशान साधा, कहा,” मुख्यमंत्री जी विधानसभा में रहते है मौन, मुख्यमंत्री खट्टर जी को बस हुड्डा साहब की रथ यात्रा सपने में दिखती है”

करन दलाल को निलंबित करने पर भी बोली भुक्कल,कहा, “एकतरफा कार्यवाही हुई है, लोकदल व बीजेपी के विधायक विधानसभा में साठ गाठ करके आते है”

अपना क्रोध जाहिर करते हुए गीता ने कैप्टन अभिमन्यु को भी नहीं बख्शा कहा,” वित्त मंत्री अभिमन्यु हमेशा अमर्यादित भाषा का प्रयोग करते हैं, मुझे शक है कि अभिमन्यु पूर्व सैनिक रहे भी है या नही?”

https://demokraticfront.com/wp-content/uploads/2018/09/hqdefault.jpg 360 480 Demokratic Front Bureau https://demokraticfront.com/wp-content/uploads/2018/05/LogoMakr_7bb8CP.png Demokratic Front Bureau2018-09-12 15:12:522018-09-12 15:12:52सत्ता में रहते हुए पागल है विज़ साहब ,सत्ता से जाने के बाद क्या हाल होगा: भुक्कल

सुभास बराला ने राष्ट्रीय कार्यकारिणी बैठक के निर्णयों पर चर्चा से अवगत करवाया

September 12, 2018/0 Comments/in CHANDIGARH, DELHI, GUJRAT, HARYANA, NATIONAL, PANCHKULA, POLITICS, STATES/by Demokratic Front Bureau

भाजपा विधायक दल कि बैठक के बाद प्रदेश अध्यक्ष सुभाष बराला ने बताया कि 28 अक्टूबर के बदले 1 नवम्बर को होगी और इसमें प्रधान मंत्री श्री मोदी जी को भी निमंत्रण दिया गया है

उन्होंने बताया कि राष्ट्रीय कार्यसमिति कि बैठक में हुए फैसलों पर चर्चा हुई और तय हुआ कि 2 से 22 अक्तूबर तक महात्मा गाँधी कि 150वीं जयंती के अवसर पर विधानसभा स्तर के कार्यक्रम होंगे और इनकी ज़िम्मेदारी पार्टी कार्यकर्ताओं को दी जायेगी .

31 अक्टूबर को सरदार पटेल कि मूर्ती का अनावरण होगा, ‘रन फार यूनिटी’ कार्यक्रम का आयोजन होगा, जिसके लिए विधायकों को अपने अपने क्षेत्र में रहने के लिए निर्देश दिए गए हैं.

17 से 25 सितम्बर तक विशेष सप्ताह मनाया जाएगा और विधायकों को प्रधान मंत्री के ‘मन कि बात’ कार्यक्रम सुनाने के लिए भी प्रेरित किया गया.

https://demokraticfront.com/wp-content/uploads/2018/09/2017_3image_19_00_403870100subhash-ll.jpg 400 600 Demokratic Front Bureau https://demokraticfront.com/wp-content/uploads/2018/05/LogoMakr_7bb8CP.png Demokratic Front Bureau2018-09-12 15:02:082018-09-12 15:02:08सुभास बराला ने राष्ट्रीय कार्यकारिणी बैठक के निर्णयों पर चर्चा से अवगत करवाया
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