Congress embarrassed again! Captain Amarinder Singh son in-law involved in Simbaholi Sugars scam
New Delhi, February 27: Soon after the Punjab National Bank fraud case was unveiled, Congress immediately blamed PM Modi and Baharatiya Janata Party (BJP). Taking the same stance on Simbaholi Sugars scam, Congress strongly criticized PM Modi and BJP publically through twitter. However, after realizing that one of the accused in Simbaholi Sugars scam was son-in law of Punjab CM Captain Amarinder Singh quickly deleted the twitter post blaming PM Modi and BJP.
After the Simbaholi Sugars scam was unveiled, the Congress tweeted, “Taja Ghotala! Modi sarkar ki naak ke niche khuleaam bank loot ka ek aur mamla ujagar.” But Congress deleted the tweet, the moment Gurpal Singh's name figured. Gurpal Singh is the son-in-law of Punjab CM Captain Amarinder Singh.
Taking a dig of Congress, BJP president Amit Shah immediately asked why the tweet highlighting the loot of Amarinder Singh's son-in-law has been deleted. He said, that it is shameful that the Punjab Chief Minister’s relative, employed in Uttar Pradesh-based Simbhaoli Sugars company, pocketed money meant for farmers.
“Punjab CM’s son-in-law pockets money meant for India’s hardworking farmers. What can be more shameful than this! #CongressLootsFarmers,” Amit Shah tweeted.
BACKGROUND:
Central Bureau of Investigation (CBI) registered a case against Simbhaoli Sugars Limited, its Chairman Gurmit Singh Mann, Deputy Managing Director Gurpal Singh and others in connection with an alleged bank loan fraud of Rs 97.85 crore.
The investigation mainly focuses on two loans taken by the company Rs 97.85 crore which was declared fraud way back in 2015 and another corporate loan of Rs 110 crore which was used to repay the previous loan.
According to the FIR, Oriental Bank of Commerce (OBC) sanctioned a loan of Rs 148.60 crore to the company in 2011. The loan was sanctioned for financing 5,762 sugarcane farmers based on a tie-up agreement under an RBI scheme. According to an MoU, out of the price to be paid by Simbhaoli Sugars Limited to the farmers, loan liabilities were to be adjusted and the remaining amount was to be paid by the company to the growers.
The account turned NPA on March 31, 2015 and was declared alleged fraud by the bank to RBI on May 13, 2015 for an amount of Rs 97.85 crore. Oriental Bank of Commerce has alleged that in addition to the above NPA, the bank, under multiple banking arrangements, sanctioned another corporate loan of Rs 110 crore to the company on January 28, 2015 to pay its outstanding loan of Rs 97.85 crore.
The CBI FIR states that the second loan was declared NPA on November 29, 2016, within 20 days of demonetisation. Meanwhile, Captain Amarinder Singh while defending his son-in-law said that he was a minority shareholder in the firm with just 12.5 percent share. He is being unnecessarily dragged into the row.