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Chidambaram said, “Please ask this government whether it

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received any letter at all in the last three years. Maybe they say they have received no representation… That will be a very serious reflection (on how) the government is functioning.”

The former Finance Minister said the loans that are under investigation were given in 2009, when he was not the Finance Minister.

“The letter does not concern Kingfisher, it concerns United Spirits Limited, which was and is a thriving, flourishing profitable company. The letter does not talk about any loan, the letter talks about an NOC for a preferential allotment of shares. That is capital, equity, not loans,” he said.

“I think, before you start over-analysing the letters, you should keep in mind the distinction between USL and Kingfisher and equity and loan. If you keep that distinction in mind, you will not ask these questions,” Chidambarama said.

Surjewala said newspaper reports have also reported that another sum of USD 58 Million was paid by ‘Diageo plc’ to Vijay Mallya in two trenches for acquisition of South African Breweries.

He said ‘Diageo plc’ supposedly paid USD 141 Million to Standard Chartered Bank after default on a loan taken by Vijay Mallya’s UB Group Company, Watson Ltd and it is also reported that Finance Arm of ‘Diageo plc’ paid another USD 42 Million for previous guarantee to Standard Chartered Bank on a loan taken by UB Overseas Ltd.

“Why has Modi Government not investigated these payments nor taken action against the guilty?

“Why has Modi Government not sought deportation of Vijay Mallya from UK till today?,” he asked.

Surjewala also questioned why did Modi Government waive Rs 1200 crores owed by Vijay Mallya to State Bank of India on 16th November 2016. “Who is the helping hand for Vijay Mallya in the Modi Government?,” he said.

Taking a dig at Modi government’s claims of bringing back black money within 100 days of coming to power, the Congress spokesperson said, “In actuality, a single defaulter with a default of over Rs 9,000 crore has run away from under the watch of the government.”

He alleged that all this has happened despite the fact that a criminal case for financial irregularities and diversion of funds was lodged by CBI nearly seven months ago i.e., 29th July, 2015.

“Vijay Mallya was also interrogated but he was neither arrested nor his passport impounded…Facts available clearly demonstrate the laxity and negligence on part of Finance Ministry and Consortium of Banks led by SBI in delaying proceedings thereby permitting Shri Vijay Mallya to escape,” Surjewala alleged.

(This article has not been edited by DNA’s editorial team and is auto-generated from an agency feed.)

Source: dnaindia.com