Urban Mirror

Urban Mirror Correspondent

New Delhi, June 26: The Lok Gathbandhan Party (LGP) today criticized the NDA government for failing to arrest PNB bank looters Nirav Modi and Mehul Choksi even after the lapse of nearly six months. The party said the failure of investigating agencies to trace the fugitives’ foreign locations reflects on its poor and haphazard functioning.

The spokesman of the party said here on Tuesday recent report indicated how Punjab bank officers flouted norms to help the scamsters Nirav Modi and Choksi that led to loot of Rs 13000 crore from the bank. The spokesman said that with extremely slow pace in investigation it would be difficult to bring back these criminals to India and ensure a strict punishment. The spokesman said that both the criminals have made it clear to the CBI that they will not return to India as they are busy in their business abroad. The spokesman said it is strange that despite Interpol alert both fugitives are roaming around the world and doing business which indicated that the CBI and enforcement directorate are either helpless or politically under pressure to go slow in the case to fade the issue from the memory of the people, as has happened in the past in such corruption issues. The spokesman said the NDA government has passed the Fugitive Economic Offenders Bill to empower probe agencies but it has not helped in any way. The spokesman said the law is more a political propaganda than a tool for action against PNB scam accused.        

The spokesman also criticized the NDA government for failing to improve functioning in the public sector banks which has led to PNB scandal. The spokesman said that the banking sector has been facing dire crisis because of its massive fraudulent activities. The spokesman said that while the non-performing assets (NPAs) have virtually pushed the PSBs of the brink of disaster, such frauds have added more woes to the sector.  The spokesman said the fraud has amply exposed weaknesses in the bank’s security system and maintenance of its records. The spokesman said that about 13,000 crore PNB fraud, the largest ever in the banking sector, indicated the sector has failed to evolve a fool proof safeguard. The spokesperson said the banking sector in collusion with the politicians and businessmen has virtually pushed the whole financial system to the collapse.