ECONOMIC OFFENCE

dhfl-pf-scam:-agrawal-in-the-eye-of-storm,-out-of-race-from-up-cs-post

DHFL-PF Scam: Agrawal in the eye of storm, out of race from UP CS post

After the Uttar Pradesh Economic Offence Wing, in its initial investigations, found his suspicious role into the EPF scam Union Agriculture Cooperation and Farmers Welfare Secretary Sanjay Agarwal (IAS:1984:UP) proceeded on leave. Further, the NaMo administration on Thursday assigned the additional charge of Agriculture to Rural Development Secretary Amarjit Sinha (IAS:1983:BH).

Earlier, it was believed that Agarwal, in addition to Union Urban Development Secretary D S Mishra (IAS:1984:UP), was in race for UP Chief Secretary post. Reportedly, Agarwal is out of race as he may be chargesheeted now whereas D S Mishra remains the alone claimant of CS. Those in the know of the affairs say that in the new scenario the Yogi Govt may draft R K Tiwari (IAS:1985:UP) as full-fledged Chief Secretary of UP. Tiwari has been in the additional charge of CS since September 01, 2019.   

It may be underlined that Agarwal was among five officials who took the decision to invest a portion of the PF in the stressed Dewan Housing and Finance Limited (DHFL). He was the Chairman of the UP Power Employees Trust (UPPET) and the Uttar Pradesh Power Corporation Limited (UPPCL) during the period 2013-2017.

EOW has already arrested three of the five officials present at the meeting on March 22, 2017 – just three days after the Yogi Adityanath-led BJP formed the government in UP. It may be underlined that a few days before the meeting, Rs 18 crore was transferred to DHFL. UPPET invested Rs 2,631 crore in DHFL, which has been investigated for alleged links with mafia don Dawood Ibrahim.

14 Nov 2019
pragmatism-has-its-own-rewards:-quick-take

Pragmatism has its own rewards: Quick take

India's ex-King of Good Time and publisher of sexy calendars Vijay Mallaya is like the proverbial camel who is humbled about his height only when it comes near the mountain. Hunted by Indian law and finding no support from British laws, he has offered to pay back 100% of the principal debt. While banks are yet to respond to his offer, senior Cabinet Minister Nitin Gadkari, who is known for his pragmatic viewpoints - the viewpoints that have made him the most successful minister in the NaMo administration, has argued for exonerating the ex-boss of the defunct Kingfisher Airline. We will revert to his reasoning later.

 

Interestingly, twice-born socialist Rahul Gandhi, who has been exorbitantly generous in targeting equally twice-born socialist Narendra Modi for his alleged hobnobbing with capitalists, has not yet responded to Gadkari's viewpoint on the Mallaya affair. Perhaps he had had a lot of good time with Mallaya and his high-spirited best companions in the world.

 

In fact, Gadkari at one shot has put two great socialists of the world Rahul and Narendra Modi on the dock even as they get ready to waive off farmers' debts running into Rs 3-4 lakh crores. Of course, these great socialist gamblers wouldn't be paying from their own pocket, and hence their generosity. The blood money to farmers would be paid for draining out their blood over the last four decades through a series of parasitic policies that have turned the net terms of trade absolutely negative for farmers.

 

But this below-contempt low cunning will open a Pandora's box of constitutional questions. First and foremost, the two great leaders will be charged with differentiating individuals on the basis of absolutely unsustainable democratic grounds. Since everyone is supposed to be equal before the law, it will be surely asked why the government is willing to waive off the entire loan and interest of farmers, while not willing to waive off the interest part of Mallaya's loan. Since Mallaya's default took place in the background of the exorbitantly high cost of aviation fuel, it may be argued that his default in payment was caused by an extremely difficult business environment like those faced by farmers, and therefore there was no malafide intent.

 

Minister Gadkari has argued on the same sustainable ground.

 

Speaking at the Times Network-organised India Economic Conclave in Mumbai, he said, “Mujhe Vijay Mallya se kuch lena-dena nahin hai… 40 saal jab Mallya regular payment kar raha tha, byaaj bhar raha tha, tab Mallya ka prime account tha… aur 40 saal ke baad, aviation mein jaane ke baad… woh bhi mujhe malum hai history poori… uske baad woh adchan mein aaya toh woh ekdum chor ho gaya?… jo 50 saal byaaj bharta hai woh theek hai, par ek baar woh default ho gaya… toh thurant sab fraud ho gaya? Yeh mansikta theek nahin hai.”

 

“(I have nothing to do with Vijay Mallya… Mallya’s was a prime account for 40 years when he repaid loans regularly. He entered the aviation sector, and ran into problems. So does that make him a thief? He defaulted once, and he turned to be a fraud? This mindset is not right.)”

 

Gadkari’s remarks came after the UK court order was welcomed by the FM.

 

On December 10, following the Westminster court order, Finance Minister Arun Jaitley tweeted: “Great Day for India. No one who cheats India will go scot free… An offender benefited during the UPA. The NDA brings him to book.”

 

BJP president Amit Shah also took to Twitter and credited the Prime Minister for the extradition order. “Vijay Mallya’s extradition is a very significant development in India’s fight against corruption. The credit for this goes entirely to Prime Minister @narendramodi, who ensured that the agencies were unrelenting in their pursuit of the man who had bled Indian banks and fled,” Shah tweeted.

 

On Thursday, Gadkari was referring to a loan from the Maharashtra government-owned entity Sicom to Mallya, extended 40 years ago, which he repaid on time without any default. Stating that ups and downs are part and parcel of any business, the Union Minister said that if someone goes through a downward cycle, then he or she has to be supported.

 

Gadkari said: “Agar Nirav Modi ki baat hai, fraud hai, usko jail mein bhejna chahiye. Agar Mallyaji ne kuch fraud paper diye, galat kiya toh bhejo, koi problem nahin hai. Par jo aadmi adchan mein aata agar usko hum yahin thappa laga denge ki woh fraud hai, toh humari economy aage nahin jaayegi.”

 

“As far as Nirav Modi is concerned, if he is a fraud, he should be sent to jail. If Mallyaji has given some fraud paper or done anything wrong, he should also be sent, there is no problem. But if we stamp every person who runs into problems as fraud, our economy will not go forward.)”

 

Well done, Minister Nadkari.

(By M K Shukla)

14 Dec 2018
dhfl-pf-scam:-agrawal-in-the-eye-of-storm,-out-of-race-from-up-cs-post

DHFL-PF Scam: Agrawal in the eye of storm, out of race from UP CS post

By IndianMandarins 14 Nov 2019

After the Uttar Pradesh Economic Offence Wing, in its initial investigations, found his suspicious role into the EPF scam Union Agriculture Cooperation and Farmers Welfare Secretary Sanjay Agarwal (IAS:1984:UP) proceeded on leave. Further, the NaMo administration on Thursday assigned the additional charge of Agriculture to Rural Development Secretary Amarjit Sinha (IAS:1983:BH).

Earlier, it was believed that Agarwal, in addition to Union Urban Development Secretary D S Mishra (IAS:1984:UP), was in race for UP Chief Secretary post. Reportedly, Agarwal is out of race as he may be chargesheeted now whereas D S Mishra remains the alone claimant of CS. Those in the know of the affairs say that in the new scenario the Yogi Govt may draft R K Tiwari (IAS:1985:UP) as full-fledged Chief Secretary of UP. Tiwari has been in the additional charge of CS since September 01, 2019.   

It may be underlined that Agarwal was among five officials who took the decision to invest a portion of the PF in the stressed Dewan Housing and Finance Limited (DHFL). He was the Chairman of the UP Power Employees Trust (UPPET) and the Uttar Pradesh Power Corporation Limited (UPPCL) during the period 2013-2017.

EOW has already arrested three of the five officials present at the meeting on March 22, 2017 – just three days after the Yogi Adityanath-led BJP formed the government in UP. It may be underlined that a few days before the meeting, Rs 18 crore was transferred to DHFL. UPPET invested Rs 2,631 crore in DHFL, which has been investigated for alleged links with mafia don Dawood Ibrahim.

pragmatism-has-its-own-rewards:-quick-take

Pragmatism has its own rewards: Quick take

By IndianMandarins 14 Dec 2018

India's ex-King of Good Time and publisher of sexy calendars Vijay Mallaya is like the proverbial camel who is humbled about his height only when it comes near the mountain. Hunted by Indian law and finding no support from British laws, he has offered to pay back 100% of the principal debt. While banks are yet to respond to his offer, senior Cabinet Minister Nitin Gadkari, who is known for his pragmatic viewpoints - the viewpoints that have made him the most successful minister in the NaMo administration, has argued for exonerating the ex-boss of the defunct Kingfisher Airline. We will revert to his reasoning later.

 

Interestingly, twice-born socialist Rahul Gandhi, who has been exorbitantly generous in targeting equally twice-born socialist Narendra Modi for his alleged hobnobbing with capitalists, has not yet responded to Gadkari's viewpoint on the Mallaya affair. Perhaps he had had a lot of good time with Mallaya and his high-spirited best companions in the world.

 

In fact, Gadkari at one shot has put two great socialists of the world Rahul and Narendra Modi on the dock even as they get ready to waive off farmers' debts running into Rs 3-4 lakh crores. Of course, these great socialist gamblers wouldn't be paying from their own pocket, and hence their generosity. The blood money to farmers would be paid for draining out their blood over the last four decades through a series of parasitic policies that have turned the net terms of trade absolutely negative for farmers.

 

But this below-contempt low cunning will open a Pandora's box of constitutional questions. First and foremost, the two great leaders will be charged with differentiating individuals on the basis of absolutely unsustainable democratic grounds. Since everyone is supposed to be equal before the law, it will be surely asked why the government is willing to waive off the entire loan and interest of farmers, while not willing to waive off the interest part of Mallaya's loan. Since Mallaya's default took place in the background of the exorbitantly high cost of aviation fuel, it may be argued that his default in payment was caused by an extremely difficult business environment like those faced by farmers, and therefore there was no malafide intent.

 

Minister Gadkari has argued on the same sustainable ground.

 

Speaking at the Times Network-organised India Economic Conclave in Mumbai, he said, “Mujhe Vijay Mallya se kuch lena-dena nahin hai… 40 saal jab Mallya regular payment kar raha tha, byaaj bhar raha tha, tab Mallya ka prime account tha… aur 40 saal ke baad, aviation mein jaane ke baad… woh bhi mujhe malum hai history poori… uske baad woh adchan mein aaya toh woh ekdum chor ho gaya?… jo 50 saal byaaj bharta hai woh theek hai, par ek baar woh default ho gaya… toh thurant sab fraud ho gaya? Yeh mansikta theek nahin hai.”

 

“(I have nothing to do with Vijay Mallya… Mallya’s was a prime account for 40 years when he repaid loans regularly. He entered the aviation sector, and ran into problems. So does that make him a thief? He defaulted once, and he turned to be a fraud? This mindset is not right.)”

 

Gadkari’s remarks came after the UK court order was welcomed by the FM.

 

On December 10, following the Westminster court order, Finance Minister Arun Jaitley tweeted: “Great Day for India. No one who cheats India will go scot free… An offender benefited during the UPA. The NDA brings him to book.”

 

BJP president Amit Shah also took to Twitter and credited the Prime Minister for the extradition order. “Vijay Mallya’s extradition is a very significant development in India’s fight against corruption. The credit for this goes entirely to Prime Minister @narendramodi, who ensured that the agencies were unrelenting in their pursuit of the man who had bled Indian banks and fled,” Shah tweeted.

 

On Thursday, Gadkari was referring to a loan from the Maharashtra government-owned entity Sicom to Mallya, extended 40 years ago, which he repaid on time without any default. Stating that ups and downs are part and parcel of any business, the Union Minister said that if someone goes through a downward cycle, then he or she has to be supported.

 

Gadkari said: “Agar Nirav Modi ki baat hai, fraud hai, usko jail mein bhejna chahiye. Agar Mallyaji ne kuch fraud paper diye, galat kiya toh bhejo, koi problem nahin hai. Par jo aadmi adchan mein aata agar usko hum yahin thappa laga denge ki woh fraud hai, toh humari economy aage nahin jaayegi.”

 

“As far as Nirav Modi is concerned, if he is a fraud, he should be sent to jail. If Mallyaji has given some fraud paper or done anything wrong, he should also be sent, there is no problem. But if we stamp every person who runs into problems as fraud, our economy will not go forward.)”

 

Well done, Minister Nadkari.

(By M K Shukla)

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Indianmandarins.com, an initiative of New Media Network, is a multi-media initiative for the fast and real-time dissemination of news and information related to civil services, central PSUs and other institutions that play a critical role in governance, administration, corporate governance, and public life in India. We aspire to provide our esteemed readers with news breaks and situation analysis in the above-mentioned domain of operations. Currently, we are available at www.indianmandarins.com. We are now planning to branch off into print publication and few other related business initiatives.

Indianmandarins.com, an initiative of New Media Network, is a multi-media initiative for the fast and real-time dissemination of news and information related to civil services, central PSUs and other institutions that play a critical role in governance, administration, corporate governance, and public life in India. We aspire to provide our esteemed readers with news breaks and situation analysis in the above-mentioned domain of operations. Currently, we are available at www.indianmandarins.com. We are now planning to branch off into print publication and few other related business initiatives.