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CBI books Punjab CM’s son-in-law, 11 others of Simbhaoli Sugars in OBC Bank fraud

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CBI books Punjab CM's son-in-law, 11 others of Simbhaoli Sugars in OBC Bank fraud

Punjab Chief Minister Amarinder Singh’s son-in-law and 11 others have been booked by the CBI in a case registered against Simbhaoli Sugars Limited – a private sugar-manufacturing firm based in Uttar Pradesh’s Simbhaoli – in connection with reported bank loan fraud of Rs 97.85 crore and default of Rs 110 crore in loans from the Oriental Bank of Commerce (OBC).

Gurpal Singh, one of the deputy directors, is married to Punjab CM Captain Amrinder Singh’s daughter Jai Inder Kaur. Gurpal Singh is on the board of directors of eight companies in total.

The CBI has registered a case of fraud against the top officers of Simbhaoli Sugars Limited, including the CMD, CFO, CEO and directors, and unknown bank officials. The CBI has charged them with criminal conspiracy and cheating.

The CBI FIR mentions two loans, said media reports. Of the two, one is a Rs 97.85 crore loan declared fraud in 2015. The other is a corporate loan of Rs 110 crore that was used to repay the previous loan. It has been learnt that the corporate loan was declared non-performing asset (NPA) on November 29, 2016 in the aftermath of Prime Minister Narendra Modi’s demonetisation move, said a Financial Express (FE) report.

The bank had lodged a complaint with the CBI on November 17, 2017. The case was registered by the CBI on February 22 this year, according to reports.

The CBI’s FIR, reported The Times of India (TOI), has alleged that Oriental Bank of Commerce sanctioned a loan amounting to Rs 148.59 crore to Simbhaoli Sugars in December 2011 after the company approached it with a proposal for financing sugarcane farmers under the tie-up arrangement with the company (with a maximum limit of Rs 3 lakh per farmer).

The company supplied to the bank the names of individual farmers along with their details of land holding and cane supplied by them in the previous season. It was also supposed to submit the KYC and other requisite documents along with the loan application of individual farmers.

The bank’s Hapur branch disbursed loans to 5,762 farmers between January and March 2012 totalling Rs 148.59 crore. The loans were disbursed through individual loan accounts opened for farmers and consolidated amount of each disbursement was credited in the Escrow (current) account of Simbhaoli Sugars on the basis of undertaking given by the company that inputs like seed, fertilizers and other necessary equipments etc have been supplied by it to all the individual farmers.

It turned out that Simbhaoli issued improper KYC certificates in the names of farmers, the TOI report said. The company transferred diverted the funds from the Escrow account to other accounts maintained by it with SBI, Punjab National Bank and UCO Bank through RTGS. This way, OBC claimed, Simbhaoli Sugars has misappropriated the money lent by it and “there is clear cut division of funds”.

The loan account of Rs 148.59 crore was declared non-performing asset (NPA) in March 2015 and a fraud in May 2015 for an outstanding amount of Rs 97.85 crore.

Interestingly, in addition to existing NPA, OBC, under multiple banking arrangements sanctioned another corporate loan of Rs 110 crore to Simbhaoli in January 2015 to pay its outstanding loan of Rs 97.85 crore. “They (bank) adjusted the total liability of Rs 112.94 crore of company in June 2016 by sanctioning this new corporate loan,” says CBI.

The corporate loan, too, turned NPA on November 29, 2016, in the aftermath of Prime Minister Narendra Modi’s famous demonetisation move resulting in its first outstanding loan of Rs 97.85 crore (as alleged fraud) and the fresh corporate loan of Rs 109.08 crore (as fresh outstanding).

The CBI on Sunday carried out searches at eight premises including residences of the directors, factory, corporate office and registered office of the company in Delhi, Hapur and Noida, said media reports quoting CBI spokesperson Abhishek Dayal.

The case comes amidst the multi-crore Punjab National Bank (PNB) fraud scam involving diamontaire Nirav Modi is making the headlines. Notably, Simbhaoli Sugars Ltd is considered as one of the largest sugar mills in the country.

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JMM-RJD-Congress are supporters of Bangladesh infiltrators: PM Modi at Jharkhand rally

Narendra Modi further claimed that if the bad policies of JMM, Congress and RJD continue, the adivasi society in Jharkhand will shrink

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JMM-RJD-Congress are supporters of Bangladesh infiltrators: PM Modi at Jharkhand rally

Ahead of the Jharkhand Assembly election, PM Narendra Modi launched a scathing attack on the incumbent Hemant Soren government, accusing it to put appeasement at the top of its agenda.

While addressing a rally in Jharkhand’s Garhwa, the Prime Minister said the coalition government of Jharkhand Mukti Morcha, Congress and RJD are supporters of Bangladesh infiltrators. He said that the JMM-RJD-Congress government has taken appeasement to its peak, and that these parties are destroying the state’s social harmony. He alleged that the parties are supporters of infiltrators, and to get votes of Bangladesh infiltrators, they are getting them settled across Jharkhand.

The Prime Minister stated that when schools disallow Saraswati Vandana, one can imagine how big the danger is. When there is stone-pelting during festivals, Maa Durga is stopped and curfew is imposed, one knows how dangerous it is, he continued. The Prime Minister also added that when the issue of infiltration goes to court and the administration denies, it becomes clear that the government machinery has been infiltrated. PM Modi was referring to allegations that a Muslim teacher stopped prayers to Goddess Saraswati at a school in Jharkhand’s Giridih.

Narendra Modi further claimed that if the bad policies of JMM, Congress and RJD continue, the adivasi society in Jharkhand will shrink, and advised people to use their vote to uproot this infiltrator coalition. He maintained that Jharkhand’s swift development is possible only if it has a government that expedites the implementation of central schemes.

Referring to the JMM’s decision to replace Champai Soren as Chief Minister after Hemant Soren was granted bail in a money laundering case, PM Modi said that the party has left no stones unturned in humiliating an adivasi son. He asked how the party will take care of the people of the state when nothing matters to them more than family. He added that he does not have a family, and the people are his family. He also mentioned that Champai Soren, once a trusted lieutenant of Hemant Soren, is now with the BJP.

Slamming the ruling coalition of corruption, he said that corruption hollows out the country like termites, and destroys the poor, Dalits, people from backward classes and tribals. He claimed that Jharkhand has seen for five years the corruption of the JMM-Congress-RJD government.

He also referred to the massive cash haul from the home of Congress’s former Rajya Sabha MP Dhiraj Sahu last year. Mentioning that mountains of cash are recovered from the home of Congress’s Rajya Sabha MP, he questioned if this money didn’t belong to Jharkhand.

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Ruckus in Jammu and Kashmir Assembly over resolution against Article 370 abrogation

Chief Minister Omar Abdullah addressing the session, said that the resolution has no importance and it is only for the cameras.

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Ruckus in Jammu and Kashmir Assembly over resolution against Article 370 abrogation

Jammu and Kashmir Assembly on Monday witnessed chaos after People’s Democratic Party (PDP) MLA Waheed Para moved a resolution opposing the abrogation of Article 370 and called for restoring the union territory’s special status.

Waheed Para, the PDP MLA from the Pulwama Assembly seat, submitted the resolution to newly elected Speaker, Abdul Rahim Rather and requested for a discussion on the matter during the five-day session, despite not being a part of the agenda.

It was submitted that although the agenda of the House has been finalised, they believe that the authority as the Speaker allows the inclusion of the resolution, as it reflects the sentiment of the people at large. After the resolution was submitted, all 28 Jammu and Kashmir BJP MLAs stood up to oppose the move, leading to noisy scenes inside the Assembly.

As the members protested, BJP MLA Sham Lal Sharma demanded Para’s suspension for bringing the resolution in violation of Assembly rules. The agitation continued even after the Speaker repeatedly requested the protesting members to take their seats. He asserted the resolution has not come to him yet and when it does, he would examine it.

While the BJP members refused to call off their protest, National Conference MLAs slammed them for interrupting the proceedings of the House. Chief Minister Omar Abdullah addressing the session, said that the resolution has no importance and it is only for the cameras.

The Chief Minister added that how the House will reflect and discuss this matter will not be decided by any one member. If there was a purpose behind the resolution, then they would have discussed this with the government before, he continued.

Nonetheless, CM Abdullah also admitted that the people of Jammu and Kashmir do not approve of the decision taken on August 5, 2019, when Article 370 was abrogated. Lieutenant Governor Manoj Sinha also said that his government will make all efforts for the restoration of full statehood. He mentioned that restoration of full statehood would be a reciprocation of the faith reposed by the people of Jammu and Kashmir in democratic institutions.

Meanwhile, PDP chief Mehbooba Mufti expressed that she was proud of Waheed Para for submitting the resolution.

Notably, Article 370 was a provision in the Constitution that granted special autonomy to the region of Jammu and Kashmir. It also allowed the state to have its own constitution, flag, and autonomy over internal matters except defense, communications, and foreign affairs.

However, the Centre on August 5, 2019 revoked Article 370, effectively removing the special status of Jammu and Kashmir and reorganising it into two Union Territories namely, Jammu and Kashmir, and Ladakh.

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20 killed after bus falls into gorge near Uttarakhand’s Pauri-Almora border, CM Dhami expresses grief

Chief Minister Pushkar Singh Dhami has announced financial assistance of Rs 4 lakh each for the families of the deceased and Rs 1 lakh each for the injured.

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20 killed after bus falls into gorge near Uttarakhand’s Pauri-Almora border, CM Dhami expresses grief

In a tragic incident, nearly 20 people were killed after a Garwal Motors Users bus fell into a 200-metre deep gorge near Uttarakhand’s Kupi in Ramnagar at Pauri-Almora border on Monday. The injured are being hurried to the hospital and a search operation is currently underway. At least 35 people were inside the bus when the accident occured.

The fatal accident was reported to authorities at around 9 am by passengers who had fallen from the bus during the accident. Police and teams from National Disaster Response Force (NDRF) and the State Disaster Response Force (SDRF) are at the accident site in Marchula’s Salt area. 

Speaking to the media, District Magistrate Alok Kumar Pandey said that the bus was going from Garhwal to Kumaon where the accident took place at Marchula in Almora. Sanjay Kumar, Salt Sub-District Magistrate stated that some of the passengers have been rescued and admitted to hospital. 

Meanwhile, Uttarakhand Chief Minister Pushkar Singh Dhami has announced financial assistance of Rs 4 lakh each for the families of the deceased and Rs 1 lakh each for the injured. The Chief Minister also directed the Commissioner of the Kumaon division to carry out a magisterial inquiry into the incident. 

Taking to social media platform X, CM Pushkar Singh Dhami expressed grief, and said that a very sad news has been received about the casualties of passengers in the unfortunate bus accident that took place in Marchula of Almora district. He added that the district administration has been instructed to carry out relief and rescue operations swiftly. 

Furthermore, CM Dhami stated that the local administration and SDRF teams at the accident site are working rapidly to evacuate the injured and take them to the nearest health centre for treatment. He mentioned that instruction have also been given to airlift seriously injured passengers if required. 

In a tweet, the Prime Minister’s office also announced an ex-gratia of Rs 2 lakh from PMNRF for the next of kin of each deceased in the mishap in Almora, adding that the injured would be given Rs 50,000.

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