Last Updated : Mar 09, 2018 07:26 PM IST | Source:

Online petition against Nirav Modi gets over 1.18 lakh supporters

Till the time of publishing this article, the petition had got 1,18,220 signatures.

Beena Parmar @BeenaParmar
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In what seems to be a public fury, a petition to the Supreme Court against the notorious diamond merchant Nirav Modi who perpetrated fraudulent transactions worth Rs 12,700 crore at Punjab National Bank (PNB), has got over 1.18 lakh signatures.

Three weeks ago after the fraud was disclosed by the government bank, through an online portal, a Mumbai-based individual Shonu Bhadoria started the petition to the apex court and Prime Minister’s Office titled “We want Nirav Modi and involved bankers behind bars asap”.

Till the time of publishing this article, the petition had got 1,18,220 signatures.

In the petition, Bhadoria writes, “The citizens of India deposit their money in PSU banks assuming that their money is in safe hands but the growing NPAs of PSU banks speaks something else. The bankers are not held accountable under who's (whose) hands these NPAs got created (sic)."

On February 14, PNB revealed to the stock exchanges about a scam worth about Rs 11,400 crore (later increased by about Rs 1,330 crore) at its Brady House branch in Mumbai. It alleged that Nirav Modi’s three group firms and his uncle Mehul Chokshi’s Gitanjali group conspired with two of the bank officials to fraudulently receive multiple Letters of Undertaking (LoUs) and use them to seek loans from foreign branches of other banks.

“Our sincere request to the Supreme court of India and to other authorities like the RBI is to ask the government of India to take punitive action against the fraudsters and their alliances be it the top banking officials or any politician asap before the citizens faith from the system is diluted,” the petition said.

It pointed out that Mr Vijay Mallya (defaulter of loans to Kingfisher Airlines) escaped taking away Rs 9000 cr now Neerav (Nirav) Modi escaped with Rs 11,400 cr and Mr Kothari of Rotomac pens is absconding with Rs 800 cr of PSU banks money… It's sickening to see our hard earned money being deducted as tax is being looted and allowed to be looted and not a single penny being recovered,” the petition adds.

It also says that PSU banks keep creating NPAs (non-performing assets) and the government of the day keeps announcing bail out packages from the tax payers’ money. “This is a conspiracy which needs to be dealt with strictly and results should be punitive.”
First Published on Mar 9, 2018 07:26 pm
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