PNB Fraud: Finance Minister Must Be Made To Depose Before Parliamentary Panel, Demands CPI-M


The CPI-M has expressed “its grave concern at the alarming rise of levels of crony capitalism under this BJP government and Prime Minister Modi.

Caravan News

NEW DELHI — Condemning the Narendra Modi government for maintaining silence over the Independent India’s largest banking fraud, the Communist Party of India (Marxist) or CPI-M has demanded constitution of a Joint Parliamentary Committee to probe the Rs 11,500 crore fraud. The Polit Bureau of CPI-M has said that the Finance Minister must be made to answer all questions related to the fraud before the parliamentary panel.

More than a week after the fraud was exposed, neither PM Modi nor Finance Minister Arun Jaitley have uttered a word on how a diamond merchant Nirva Modi cheated the Punjab National Bank over the years and fled the country before being caught.

The CPI-M has expressed “its grave concern at the alarming rise of levels of crony capitalism under this BJP government and Prime Minister Modi. One after another chosen corporates’ who have defrauded people’s money and manipulated the system are allowed to leave the country before facing the law of the land. The latest in this is the case of Nirav Modi.”

“The government is refusing to answer how this person was allowed to leave when a FIR was impending against his crime and subsequently to surface along with the Prime Minister for a photograph at the Davos World Economic Summit. This case needs to be probed thoroughly. In the previous instances of financial frauds of Harshad Mehta or Ketan Parikh, Joint Parliamentary Committees were constituted and the then Finance Ministers had deposed before them and put in place corrective measures. In the instant case also a JPC should be constituted and the current Finance Minister must be made to answer all the relevant questions,” demanded CPI-M.

The party also demanded that PM Modi “must furnish information on who are the industrialists whose NPAs have been waived to the tune of Rs. two lakh crore, according to the statement made in parliament. The Prime Minister must also provide a list of industrialists accompanying him on his foreign visits at the expense of the State exchequer. Concealing of these names shows the levels to which crony capitalism benefitting chosen individuals close to the ruling party is being practised. This is completely reprehensible and cannot be accepted.”

The left party has called upon all its party units to organise protest actions on the above demands across the country.


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