My Dear Friends,
Crisis of mounting bad loans/ willful defaulters in PSBs - What is the Responsibility of the Government as the Owner?
Banking Minister's Statement in the Parliament - Reply by Minister of State for Finance Shri. Bhagwat K Karad on 02 8 2022 on the floor of the House :
PSB BAD LOANS WRITTEN OFF DURING THE LAST FIVE YEARS
2017-18 ₹1,61,328 Crores
2018-19 ₹2,36,265 Crores
2019-20 ₹2,34,170 Crores
2020-21 ₹2,02,781 Crores
2021-22 ₹1,57,096 Crores
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TOTAL ₹9,91,640 Crores
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Top ten defaulters as per Minister’s Reply
1. Gitanjali Gems ₹7,110 Crores
2. Era Infra Engineering ₹5,879 Crores
3. Concast Steel and Power Ltd ₹4,107 Crores
4. REI Agro Ltd ₹3,984 Crores
5. ABG Shipyard ₹3,708 Crores
6. Frost International Ltd ₹3,108 Crores
7. Winsome Diamonds ₹2,671 Crores
8. Rotomac Global Private Limited ₹2,481 Crores
9. Coastal Projects Ltd ₹2,311 Crores
10. Kudos Chemie ₹2,082
₹37,441 Crores
IRRESPECTIVE OF THE PARTIES IN POWER, PSBs HAVE BEEN INDISCRIMINATELY WRITING OFF THE DUES PAYABLE BY THE INDUSTRIAL & BIG BUSINESS TYCOONS.
BANKS HAVE ENOUGH MONEY TO CATER TO THE NEEDS OF THESE BANDICOOTS...
BUT NO MONEY TO MEET THE PALTRY LEGITIMATE DUES PAYABLE TO THE BANK RETIREES WHO HAVE BEEN HARD HIT BY IFLATION FOR OVER THREE LONG DECADES....
HOW COME FUGITIVES ALONE ARE TERMED AS " VICTIMS OF TAX TERRORISM " A NEWLY INVENTED EYE-CATCHY SLOGAN?? ..... MEDIA TOO IS MAKING A MOCKERY......
IT MAY NOT BE OUT OF CONTEXT TO REMIND YOU ALL AT THIS JUNCTURE, THE YESTER -YEAR'S SCAM-RIDDEN FAIR GROWTH FINANCIAL SERVICES WHERE THE THEN FINANCE MINISTER HIMSELF HAD A SIZABLE INVESTMENT IN THE SCAM-RIDDEN COMPANY, PROMOTED BY AN EX.BANKER ( CEO OF CANARA BANK) WHOSE SHARES HAD SHOOT UP SKY HIGH WITHIN MINUTES OF ITS LISTING ON ITS MAIDEN PUBLIC ISSUE..... HOW COME.... ??
ULTIMATELY, THE INNOCENT INVESTORS ACROSS THE COUNTRY HAD TO LOSE THEIR HARD - EARNED SAVINGS!
ULTIMATELY THE OWNER /PROMOTER - BEING HIMSELF AN EX-BANKER- ( CEO: CANARA BANK) HAD TO COMMIT SUICIDE IN HIS BATHROOM JUST MUNUTES BEFORE THE SCAM BROKE OUT
.."CHIDAMBARA RAHASYAM !! "
PLEASE CLICK THE FOLLOWING LINK FOR A FEW MORE INSTANCES CITED AS EXAMPLES & FOLLOWED BY MY ANALYTICAL SCENARIO SUPPORTED BY OCCULAR PROOFS AS TO HOW THE BANKS HAVE BEEN PLAYING INTO THE HANDS OF THESE BIGWIGS TO LOOT THE COUNTRY'S PRECIOUS ECINOMIC RESOURCES : A BIRD'S EYE VIEW
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AND NOW, COMMING TO THE LATEST POSITION OF OUR CRUSADE ON THE LEGAL FORINT...
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01. M C SINGLA & Ors. (Pending at the Supreme Court) For submission of IBA's report is posted to 26 08 2022.
ARISE - IOB's Officers' Retiree Orgonisation affiliated to AIBPARC has also impleaded in the above case.
02. Where as the judgement is already kept reserved for pronouncement in the case filed by our Friend Sri C N Vengopalan & Ors. at Kerala High Court
03. Three cases filed by the Officers of SBI are pending at Delhi High Court detalis of which are furnished here under:
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WPC 1875/2013 FSBIPA
WPC 8095/2016 GOP
WPC 9679/2016. GOP
Application moved by Federation for early listing of the case has been admitted today after repeated pleas by Federation counsel Hon’ble High Court agreed to list the case for hearing on 13 08 2022 and not 29 08 2022 as earlier reported
Along the FSBIPA cases, both the above mentioned cases filed by GOP have also been heard .
On behalf of GOP , Renowned Advocate Sri J Sai Deepak along the previous team of Dr Jose Varghese Sr Advocate & Sri Alex Joseph Advocate on Record would appear
FSBIPA case is about restoration of 50% while GOP cases are
1- Restoration of 50% pension without ceiling and payment of arrears with interest @12%
2- 100% DA Neutralisation to pre 2002 retirees
3- Pension updation
4- Payment of interest to family pensioner
2. Thanks to new team of Federation and Sri PK Pathak Ji for his untiring efforts. FSBIPA who moved to the court and been successful with the move for early listing. Let’s work unitedly for our common good
For information
Umesh Sharma
GOP
06 08 22
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SUCCESS SHALL BE OURS.
With the Divine blessings of Matha Kanaka Durga abode इन्द्रकीलाद्रि - विजयवाद Indrakeeladri- Vijayawada, we eagerly look forward to bring solace to the grief-stricken hearts of the bank retirees in general and the SUPER SENIORS IN PARTICULAR only in the sole interest of justice & fair play.
Regards & Greetngs
| यतो धर्मस्ततो जयः || IS THE ULTIMATE .
I remain – Yours ,
దేవులపల్లి శ్రీనివాస మూర్తి
DEVULAPALLI SRINIVASA MURTI Flat # 102 "Sai Kunj " Lakshminarasimhapuram Colony ,Hasthinapuram North - Hydearbad 9989318300
AUGUST 07, 2022