CBI files case against Punjab Basmati Rice for cheating 6 banks for Rs350.84 crore
The Central Bureau of Investigation (CBI) has registered a case against Punjab Basmati Rice Ltd for cheating a consortium of six banks to the tune of Rs 350.84 crore by disposing off the stock and prime security.
The agency registered the case on a complaint filed by Canara Bank, Chandigarh, against Punjab Basmati Rice Ltd (borrower company). Some unidentified persons and bank officials have also been booked by the CBI.
It was alleged in the complaint that the accused had cheated the Canara Bank-led consortium comprising Andhra Bank, Union Bank of India, Oriental Bank of Commerce, IDBI Bank and UCO Bank to the tune of Rs 350.84 crore, including Rs 174.89 crore of Canara Bank, by disposing off the stock and prime security without any prior intimation or approval from the consortium of lender banks.
The CBI on Thursday also conducted searches at the premises of the accused directors and promoters of the firm -- Kulwinder Singh Makhani, Jasmeet Kaur and Manjit Singh Makhani -- and the premises of the company in Amritsar.
"All precautions were taken while conducting the searches and PPE kits were provided to the search teams. The investigation is continuing," the CBI said.
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    Eight policemen, including a circle officer killed by gangster in Kanpur
    In a shocking incident, eight police personnel, including a circle officer, were shot dead and six policemen seriously injured when a local criminal, Vikas Dubey, and his gang sprayed them with bullets in Vikru village under Chaubeypur police circle in Kanpur in the wee hours of Friday.
    The deceased include circle officer Bilhaur, Devendra Kumar, who was leading the team, three sub-inspectors and four constables.
    UP Chief Minister Yogi Adityanath has expressed grief over the incident and offered his condolences to the families of the deceased police personnel.
    Chief Minister has directed the Special Task Force (STF) to take over investigations and ensure immediate arrest of the criminals. A forensic team has already reached the spot.
    IG Kanpur Mohit Agarwal said that the borders of the district had been sealed and forces from several adjoining police stations had been called in for combing operations to arrest the accused.
    The injured policemen have been admitted to the hospital and the condition of two of them is said to be critical.
    According to reports, the police team comprising about 50 police personnel had gone to the village around 3.30 a.m. after receiving a tip-off about the presence of Vikas Dubey there.
    Dubey and his men had stationed a JCB to block their way and as soon as the police team reached there, they started firing from the terrace of a house. The miscreants, numbering about a dozen, also pelted stones at the police men.
    The deceased police personnel have received multiple bullets in the incident.
    The gangster and his men later looted the arms of the policemen and made an easy escape.
    All senior police officials including ADG Kanpur, IG and others have reached the spot.
    UP DGP H C Awasthi said that a massive operation has been launched to arrest the accused.
    ADG law and order Prashant Kumar also reached the site of the incident.
    The bodies have been sent for post mortem.
    Vikas Dubey, meanwhile, is wanted in over 60 criminal cases.
    In October 2001, he had shot dead senior BJP leader and then chairman of contract labour board, Santosh Shukla, inside the Shivli police station.
    Further investigations are on.
    All borders of the district have been sealed.
    This, incidentally, is one of the biggest attacks on a police team in the state in recent years and has expectedly sent shock waves in the state.
    Even as speculations began about the information of the police movement being leaked to the criminal by some 'insider', the IG range said, "This is a matter of investigation. Our focus is now on arresting the accused without delay."
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    Musings in the Time of a Pandemic
    Forced indoors by the long lock-down since March, most of us have been watching more TV than we did before. As the visuals unfold, with news reports being dominated by the coronavirus pandemic on all channels worldwide, many questions arise, which no one answers. Here are some.
    As in every other country, we too have been hosing down public places with a vengeance—streets, building and house facades, walls, vehicles, even train tracks. Thousands of lirtes of water, sprayed liberally all over. Where does so much water come from, when we as a country have millions of citizens struggling to get a single bucket of water from the pubic tap, that too after standing in a queue for hours? If such quantities of water can be accessed, why wasn’t it used, before the virus struck, to clean up our mounds of garbage, or provide water in public toilets (many do not have water) or organise water supply in villages? Do we need to wait for a disaster before we muster the resources needed to fight a medical emergency?
    The same question applies also to money – the finance minister has announced a Rs20 lakh crore package for fighting the virus. Twenty lakh crore? Where is it coming from? If that kind of money can be mobilised, why couldn’t it be done before the crisis, to fund the hundreds of development projects that get stalled for 'want of money'? 
    Hundreds of schools have no proper toilets, no desks, not even classrooms, and children sit under a tree;  hundreds of primary health care clinics lack  proper facilities or even doctors , even in the urban areas, villages without proper approach roads so that sick people  and women in labour have to be carried  to the nearest town, on a cot by four people, across jungle as I have seen in Andhra Pradesh, Rajasthan and UP. No money? In that case, where does this Rs20 lakh crore come from, now? After all, isn’t poverty too, a kind of affliction, a suffering that dehumanises the dispossessed?
    Dharavi in Mumbai has been infamous for decades, as one of the world’s largest slums. With a population of around 10 lakh, of whom 80% depend on common toilets, the slum saw nearly 3,000 cases of coronavirus (at the last count) and nearly 500 deaths. Knowing that it was such an inhuman habitation, right there in the middle of a city that is home to the country’s top billionaires (including the Ambanis and Tatas and Bollywood’s superstars), why didn’t the government do anything to address Dharavi’s health deficiencies, before the infection set in? No money? But the Union government is furiously hastening a Rs11,000 crore project to reshape Lutyen’s beautiful central vista around Rashtrapati Bhavan and India Gate, both iconic and historic showpieces. How many houses for the homeless, can that amount build, to provide shelter from sun and rain? Why is no one asking these questions? 
    How many hundreds of crores of public money goes into raising statues – for Sardar Patel, Shivaji, Kempe Gouda (the latest now, a 108 ft statue at a cost of Rs78 crore, at the international airport in Bengaluru, a city that is home to 520 slums)? The three-quarter page ad in newspapers for the foundation stone laying event alone, listing 33 VIPs including MPs and MLAs who will ‘grace’ the occasion as special invitees, would have cost several lakhs of rupees. No money, so citizens are urged to donate to the prime minister’s CARES fund set up for collecting money for the virus emergency?
    Political parties get busy ferrying their MLAs to various posh resorts, to 'prevent poaching' by other parties, even as the country sees thousands afflicted by a fatal virus. Poaching is usually applied to wild animals, but in India it refers to the obscene games that politicians of all parties play, at public expense, to grab or retain power or topple those elected to office as happened in Karnataka, Rajasthan and Gujarat. 
    The MLAs have a gala time, swimming and playing golf and enjoying five-star luxury. All paid for. While the country is under a lock-down, forcing millions of people to stay indoors and wiping out earnings for millions who walk for days together to return to their native villages. The ‘going rate’ for defecting from one political party to another, is Rs 25 to 30 crore, offered as ‘inducement’….
    Money can talk louder than ideology or ethics, right?
    In the heart of Delhi, near Rashtrapati Bhavan is a road named after the famous Tamil poet-patriot, Subramanya Bharati. He declared, in one of his verses, “Thani oruvanuk-kunavullai enil jagattinai azhittiduvom” – if even one Indian starved, we will rise in protest. Name a road after a poet, but forget his ideas: while obscene amounts are splurged on erecting statues, while millions starve…
    Every city and village have a statue of the Mahatma, which is garlanded ritually on his birthday and martyrdom day. Gandhi was against liquor – but today as lock-down rules are relaxed, the first outlets to be allowed to open are liquor shops, and temples, because liquor brings in revenue for the government. (Poor Gandhi. He comes in useful. Sometimes) And temples because religion is high on the agenda of political parties, as a means of garnering votes and grabbing power by whipping up factional loyalties…
    TV carries exhortations about 'social distancing' to prevent infection. Tell that to the family of five that lives in a one room, an eight by eight tenement that is barely large enough for the residents to sleep in. Those watching news with visuals of crowds (“fans and party supporters”) jostling to felicitate the newly elected chief of the Congress party in Karnataka, wonder whether social distancing is only for the aam aadmi, not for VIPs. One rule for the rulers, another for the ruled. That’s not democracy, is it?
    After tens of thousands of migrant labourers have returned to their native villages, there are now news reports of some city-based industries urging them to come back (some have even been flown back by their former employers) because their labour inputs are needed to generate income and profits for the businessmen. They are like the brooms or dish rags that one uses when we need cleaning work done, at other times they are dumped out of sight. My copy of the Constitution says each citizen, irrespective of class or caste, rich or poor, deserves dignity as a human being. 
    As eminent jurist Professor Upendra Baxi says in a recent comment, we are 'thingifying humans'. To be poor is to be penalised. In that sense, perhaps we have the world’s largest number of ‘criminals’, totaling some 200 million who fall below the poverty line. What an achievement.  While we are being ranked among countries with dubious ‘achievements’, we have also, for the records, 'overtaken' England - in terms of the number of virus cases….
    (Dr Sakuntala Narasimhan is a Bengaluru-based senior journalist, writer, musician and consumer activist. She is a renowned senior vocalist in both traditions of Indian classical music - Hindustani and Carnatic, an A-graded artiste of All India Radio in both traditions. She is also a musicologist and author, and has written a book on the Rampur gharana.
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    1 month ago

    Dr. Sakuntala Narasimhan asks the right questions. Where does all this money suddenly come from? Why has it never been used for the improvement of lives of the poor people?
    Many people, including myself, do think like her but don't talk much about it except to express our shock and dismay around family or friends at the way things are done in our country. We may even want to do something but give up before the conviction that things will not change. The poor who really need the funds in normal times, to live a decent life of dignity, seem to be the last on the minds of the government, fully occupied in dealing with big projects with huge profits involved. The poor man has always existed with no water or hardly any, with no food or hardly enough for his family, with no roof except the one built with borrowed money paid to a slum-lord, always at the mercy of the bull-dozer. It is sad that laws seem to exist for the rich and powerful. Poor peoples' lives also matter. What is a democracy worth if it is not for all the people, just a select few?


    1 month ago

    This will go on forever exploitation existed always since ages This always comes handy for a good writeup


    1 month ago

    n o use talking to deaf talk through NOTA

    Ramesh Popat

    1 month ago

    Things are improving for sure,
    but very slowly!


    1 month ago

    These matters will not go into the heads of politicians and Babu's.

    We are listening!

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