Modi government protecting GSPC from being declared bankrupt: Jairam
New Delhi, Aug 27 : Citing an RBI notification, Congress leader Jairam Ramesh on Monday demanded that the SBI should declare Gujarat State Petroleum Corp (GSPC) bankrupt and said the company owed Rs 12,000 crore to several banks.
He accused the Modi government of trying to protect the company from being declared bankrupt.
Ramesh said that on February 12, the Reserve Bank of India issued a circular stating that any company that owed more than Rs 2,000 crore to banks should be declared bankrupt within 180 days.
"GSPC's highest debt is from SBI, which is Rs 1,200 crore. According to RBI's notification, SBI should declare GSPC bankrupt," said Ramesh.
"Last month GSPC submitted a 15-page document, entitled ‘Gujarat State Petroleum Corp Debt Resolution Plan' to SBI for the restructuring of outstanding loan. Therefore, it is beyond any doubt that GSPC is not in a position to repay the loan," he added.
Ramesh said: "GSPC has also suggested to transfer a portion of this outstanding loan to the Gujarat State Financial Services (GSFS) and Gujarat State Investment Ltd (GSIL)."
During Prime Minister Narendra Modi's term as Gujarat Chief Minister, the GSPC was cited as one of the greatest examples of the Gujarat Model.
"In 70 years, for the first time the Central government has filed an affidavit challenging a circular of the RBI in High Court with the only intention of saving GSPC," said Ramesh.
"In its affidavit, the government said they are not in agreement with the RBI circular and the period of 180 days needed to be extended to 360 days. Some power companies have moved the court, which includes Adani Power. So, this is another big scam after Rafale Deal," he added.
He said SBI was under pressure to take a decision on the loan restructuring to avoid GSPC being declared bankrupt, because in case it was declared bankrupt, it would be a huge blow to the Prime Minister.
Even after the sanction of Rs 20,000 crore to GSPC, no oil or gas was extracted, he said.
Ramesh said this raised questions about the priorities and intentions of Modi. "The PM has not spoken a word on the GSPC issue after 2007. Why is he silent?"
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Nightclub fire: Goa court remands Luthra brothers in police custody for five days
Panaji (PTI): A court in North Goa on Wednesday remanded Gaurav and Saurabh Luthra, co-owners of the ‘Birch by Romeo Lane’ nightclub, in police custody for five days.
The brothers, brought to Goa from Delhi after being deported from Thailand in connection with the December 6 blaze that killed 25, were produced in the court after undergoing health check-ups twice at the District Hospital in North Goa.
Judicial Magistrate First Class Mapusa Puja Sardesai remanded the two brothers in police custody for five days.
Advocate Vishnu Joshi, representing Bhavana Joshi who lost four family members in the tragedy, said that the accused were asking for “special consideration” claiming poor health.
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“We said they should not be given any extra relaxation,” he said, adding that the court has taken cognisance of the fact that this is about the death of “25 people in the form of mass genocide”.
“But since they kept pressing for medical check-up, the court ordered reexamination of their health. It is clear in the medical examination that they don’t require any consideration. The accused sought special considerations in the lock-up like a good mattress, which the court refused,” said Joshi.
A team of the Goa Police, along with the Luthra brothers, arrived at the Manohar International Airport, Mopa, in North Goa at 10.45 am.
The duo was initially taken to a Primary Health Centre at Siolim for medical examination. They were then taken to the District Hospital at Mapusa.
After their health assessment, the two were brought to the court.
The court directed that the accused be sent for fresh medical examination. Accordingly, the two were again taken to the District Hospital.
Later, they were produced before Judge Sardesai, who ordered the five-day police custody of the accused.
After the fire tragedy at Arpora village, the Anjuna police had registered a case against the Luthra brothers on various charges, including culpable homicide not amounting to murder.
The brothers were arrested in Delhi on Tuesday after being deported from Thailand. A court there allowed the Goa Police their two-day transit remand.
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The duo had fled to Phuket in Thailand early on December 7, hours after the fire at their nightclub, prompting the authorities to issue an Interpol Blue Corner Notice and cancel their passports.
They were detained by Thai authorities at Phuket on December 11 following a request from the Indian government, which later coordinated with officials in Thailand to deport them under legal treaties between the two nations.
Five managers and staff members have already been arrested by the Goa Police in connection with the fire.
