abg: Loans to ABG given throughout UPA rule, our authorities detected fraud and took motion, says BJP

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The BJP on Sunday hit again on the Congress over personal agency ABG Shipyard allegedly dishonest banks of over Rs 22,842 crore, saying that these loans have been sanctioned when the UPA was in energy whereas the Modi authorities has gone after the promoters behind such frauds.

BJP spokesperson and Rajya Sabha member Syed Zafar Islam stated that for the Congress to assault the federal government over the case is sort of a thief blaming cops for the crime.

Islam stated all these loans got previous to 2014 when the BJP got here to energy and added that they had even turned non-performing belongings (NPA) through the earlier dispensation.

Due course of was adopted all these years and the BJP authorities has recognized the fraud, he stated. “That’s the reason now we have taken this motion,” he added, referring to the CBI case within the matter.

“The Congress is brazening it out. It’s its authorities which ran the ‘cellphone banking’ rip-off with its senior functionaries forcing banks to sanction loans after accepting commissions from these promoters. They’re totally chargeable for the fraud as they have been hand in glove with all promoters. Our authorities has detected these frauds,” the BJP chief stated.

The Congress on Sunday accused the Modi authorities of complicity, collusion and connivance in what it described as “India’s largest financial institution fraud” of Rs 22,842 crore by Gujarat-based ABG Shipyard.

The opposition occasion questioned why the federal government took 5 years after the liquidation proceedings of ABG Shipyard to lodge an FIR in reference to the alleged duping of 28 banks.

On February 7, the CBI booked ABG Shipyard Restricted, its former chairman and managing director Rishi Kamlesh Agarwal and others for allegedly dishonest a consortium of banks of over Rs 22,842 crore.

The BJP spokesperson stated the federal government headed by Prime Minister Narendra Modi has been very clear that there will likely be no interference within the technique of banks sanctioning loans.

Banks have been giving loans on the idea of the power of corporations, in contrast to prior to now after they sanctioned loans on the behest of their political masters, he stated.

The BJP authorities inherited the issue, recapitalised the banks and focussed on recoveries.

Banks at the moment are in higher place and have been making earnings, he stated.

The federal government additionally got here with a legislation for speedier restoration of cash from defaulter corporations, he stated, including that this has helped within the restoration of over Rs 5 lakh crore.



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