Grounding of Jet Airways seems a scam: Anand Sharma
Panaji, Apr 21: Senior Congress leader Anand Sharma Sunday said the collapse of Jet Airways appears to be a "scam" being executed in the run-up to elections, and demanded intervention of the supreme court in registration of an FIR in the matter.
Weighed down by huge debt and falling revenue, Jet Airways recently announced suspension of its entire operations, leaving thousands of employees jobless.
A State Bank of India-led consortium of lenders is now running the airline under a debt recast plan.
"I can smell and see that it is a big scam. Collapse of Jet Airways appears to be a scam which was well thought out and being executed in the name of elections, so that nobody will ask questions," alleged Sharma in a press conference.
He further demanded that the apex court take note of the issue and direct registration of an FIR in the "entire scandal".
Sharma also demanded that the matter be "re-investigated" and criminal responsibility and accountability be fixed for "ruining thousands of jobs".
"Since this is election period, nobody has talked about it," the Rajya Sabha MP said.
Referring to the lenders' consortium's refusal to infuse emergency funds in the airline, Sharma claimed that the debt burden of Jet Airways was "much smaller" compared to other businesses which were rescued by the Centre.
The over 25-year-old airline had sought a Rs 400-crore emergency fund from its lenders to whom it already owes over Rs 8,500 crore, but was refused as the airline was not ready to offer more collaterals.
"The Central government had rescued other businesses by restructuring debts to the tune of Rs 30,000-40,000 crore.
Compared to this, the amount (debt) of Jet Airways was much smaller. Moreover there was a resolution (accepted) by the lenders to save jobs and to save the airline," Sharma said.
"Once the resolution plan was accepted then the management and promoters moved out (but as) banks did not put money the fleet was grounded," he said, adding that the brand value of running the airline stood destroyed.
The Congress leader alleged that the consortium of banks has failed to adhere to the resolution plan accepted by it, and is responsible for "ruining" the lives of thousands of employees of Jet Airways.
"We are now told that the Airlines was registered in India and it has been deregistered and re-registered again.
Who are the people who are re-registering it so that the value would be brought down. You will find out that they are close to the ruling establishment," the Congress leader claimed.
SBI-led banks had invited bids for selling anywhere between 31 and 75 per cent stake in the airline and have already received four initial bids from Jet Airways' foreign partner Etihad Airways, the sovereign wealth fund NIIF, and two private equity funds--TPG Capital and Indigo Partners.
Jet Airways founder Naresh Goyal, who, along with his wife Anita, was forced out of the airline late last month by the banks, had also put in bids, but was asked to withdraw after the four bidders threatened to walk out. The banks hope to complete the sale process by May 10.
Taking a dig at Prime Minister Narendra Modi over the issue, Sharma said, "finally, the so-called job creating PM has reconfirmed during his last few weeks that he is a job destroyer".
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If you have a conscience, apologize to the people: R Ashoka slams Yathindra over Nalwadi comparison
Bengaluru: Leader of the Opposition R. Ashoka launched a scathing attack on MLC Dr. Yathindra, demanding that he retract his controversial statement comparing Chief Minister Siddaramaiah to the late Maharaja Nalwadi Krishnaraja Wadiyar. Ashoka urged Yathindra to apologize to the people of Karnataka if he had even a shred of conscience and any respect for the Mysuru royal lineage.
In a strongly worded social media post on Sunday, Ashoka stated, “Comparing Siddaramaiah to Nalwadi Krishnaraja Wadiyar is nothing short of absurd. Where is Nalwadi, who was bestowed the title of ‘Rajarshi’ by Mahatma Gandhi himself, and where is Siddaramaiah, who has stooped to being a puppet in the hands of fake Gandhis for the sake of power?”
He continued his critique by contrasting the enduring legacy of Nalwadi, remembered fondly by Kannadigas for his people-centric development, with what he termed as Siddaramaiah’s failure to manage Karnataka’s economy, burdening every household with debt.
Ashoka highlighted several stark differences, while Nalwadi built Mysore University over a century ago, Siddaramaiah is shutting down nine universities due to lack of funds. Nalwadi famously sold his family’s gold to build the KRS dam, whereas Siddaramaiah is accused of grabbing 14 sites meant for the public. Nalwadi established Bhadravati Iron & Steel Plant, Sandalwood Soap Factory, and Mysore Paper Mills. In contrast, Ashoka claimed Siddaramaiah's governance drove away industries, investors, and entrepreneurs. Nalwadi pioneered reservations for the backward classes long before it became mainstream. Siddaramaiah, Ashoka alleged, is reducing social justice to a gimmick by sticking labels on doors in the name of surveys.
While acknowledging Yathindra’s emotional attachment to his father, Ashoka emphasized that comparing Siddaramaiah to a visionary like Nalwadi was “laughable, baseless, and a gross insult” to the late king.
In his concluding remarks, Ashoka slammed the government for ignoring farmers’ needs despite an early monsoon. He accused the administration of being caught up in internal power struggles and negligence, forcing farmers into despair. “This government will not be spared from the curse of the farmers,” he warned.
