This story begins after the bankruptcy of Bhushan Power & Steel. You cannot recover money from such companies after declaring bankruptcy. There was no such law in India that if someone becomes insolvent then how to recover money from him? ? ? Till now it was like this. Modi government came in 2014 and NCLT (National Company Law Tribunal) was created.
Now whichever company is insolvent will have to go to NCLT. There will be bidding. The company will be auctioned and the money will be given to the promoters, such as banks, after recovery. So that the NPAs of the banks do not increase.
Now talk of Bhushan Power & Steel and its owner Sanjay Singhal. His company was declared bankrupt 18 months ago. PNB Bank owed Rs 47,000 crore on them. When the auction bidding started, Tata Steel, Jindal and UK Liberty House bid. Now the decision has to come from the NCLT court as to which company’s bid has been accepted. Then the same company will be given bhushan power and the bank’s loan will also be repaid.
Now the climax has come, when the owner of Bhushan Steel and Power has placed an offer in front of NCLT that we will repay the loan of 47,000 crores of banks. Don’t auction our company.
Now the public has to think that how many such industrialists have reaped their ash by eating bank money and going bankrupt. In the time of previous governments of a particular family.
Now they have to repay the loan. And all this was possible due to the laws made by the Modi government and the formation of institutions like NCLT. That is why Modiji says that I have filled the loop holes (pits) of Congress time. So it doesn’t seem like an exaggeration at all.
Almost the same story is also of Ruia Brothers, Essar Steel people. He also did not feel like repaying the bank loan. went bankrupt. Lakshmi Mittal, Mittal Steels have placed bids in NCLT but now Rs 54,000 crore has come to Ruia Brothers and are requesting that we take over our company. Don’t sap it and take 54,000 crore from us too.
Now these camels have come under the mountain. Till now, he himself has made a lot of money on the money of the country and also made his masters (Khandani Sarkar i.e. Congress) ashes. If there is any problem, then why should they be afraid when their army is afraid of Kotwal. But now this is the government of ‘Chowkidar’. And on one of its calls, a long line of chowkidars has arisen across the country. Such anti-national elements will have to fear now.
- This is the advantage of giving power to the head chowkidar Modi. You have to decide whether to hand over the country to the robbers or to the watchman.*
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