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

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The BJP on Sunday hit again on the Congress over non-public 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 mentioned that for Congress to assault the federal government over the case is sort of a thief blaming cops for the crime.

Islam mentioned all these loans got previous to 2014 when the BJP got here to energy and added that they had even turned non-performing property (NPA) in the course of the earlier dispensation.

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

Additionally Learn | ABG Shipyard fraud: SBI says no delay in submitting of case

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

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 get together 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 mentioned the federal government headed by Prime Minister Narendra Modi has been very clear that there will likely be no interference within the strategy of banks sanctioning loans.

Banks have been giving loans on the premise of the energy of firms, in contrast to previously after they sanctioned loans on the behest of their political masters, he mentioned.

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

Banks at the moment are in a greater place and have been making income, he mentioned.

The federal government additionally got here up with regulation for speedier restoration of cash from defaulter firms, he mentioned, including that this has helped within the restoration of over Rs 5 lakh crore.

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