‘Another scam like ABG Shipyard’: Congress demands CBI probe into Amtek insolvency | Latest News India

0
54

The government can’t shrug its responsibility off by saying these companies took loan during the UPA regime, the Congress said. 

The Congress on Sunday accused the government of sheltering the promoters of the companies declaring insolvency through the Insolvency and Bankruptcy Board of India. “The Amtek group of companies took a loan of 21,000 crore from Indian banks. And then it was put on sale for 4,100 crore. Where did the money of the banks go? This way our banks are being bankrupt, which is our money. There have been reports that Amtek conducted preferential transactions, transactions defrauding creditors. But the government is not taking any action against the promoters,” Congress leader Sanjay Nirupam said, demanding a CBI probe.

Citing the examples of Alok Industries, Videocon, Nirupam said the government should ask these shrewd businessmen how their operations went kaput, while they started their companies from…

Read full article at www.hindustantimes.com