siyasat.net news desk
New Delhi, April 27:
The Lok Gathbandhan Party (LGP) today criticized the NDA government for failing to arrest PNB bank looters Nirav Modi and Mehul Choksi even after a lapse of nearly three months. The party said the failure of investigating agencies to trace the fugitives’ foreign locations reflects on its poor and haphazard functioning.
The spokesperson of the party said here on Friday that with extremely slow pace in investigation, it would be difficult to bring back these criminals to India and ensure strict punishment to them. The spokesperson said that both the criminals have made it clear to the CBI in writing that they will not return to India as they are busy in their business abroad. The spokesperson said it is strange that despite Interpol alert, both fugitives are roaming around the world and doing business with impunity, which indicates that the CBI and the enforcement directorate are either professionally bankrupt or politically under pressure to go slow in the case and allow it to fade away from the memory of the people, as has happened in the past in many similar corruption cases. The spokesperson said the NDA government has passed the Fugitive Economic Offenders Bill to empower probe agencies but it has not helped the agencies in any way. The LGP said the law is more of tool for a political propaganda than a fool proof mechanism for action against PNB scam accused.
The spokesperson also criticized the NDA government for failing to improve functioning in the public sector banks which has led to PNB scandal. The spokesperson said that the banking sector has been facing severe crisis and criticism because of massive fraudulent occurrences in the sector. The spokesperson said that while the non-performing assets as it is, have virtually pushed the PSBs to the brink of disaster, such fraudulent acts have further added woes to the already ailing sector. The spokesperson said the successive frauds committed by Nirav Modi and his associates have amply exposed weaknesses in the bank’s prevailing security mechanism and maintenance of its crucial security keeping records. The spokesperson said that about 13,000 crore worth this PNB fraud, the largest ever in the banking sector, indicates that the banking sector has failed in its primary responsibility of evolving a foolproof safeguard of the public assets. The spokesperson said the banking sector, in collusion with the corrupt politicians and similarly placed business persons, has virtually pushed the whole financial system of the fourth seeded economy of the world, to disaster.
