Dance of Democracy Election 2014 AIBEA writes to CEC ..DEBAR & DISQUALIFY THE DEFAULTERS To Shri. V.S.Sampath, Chief Election Commissioner, Nirvichan Bhavan, Ashoka Road, New Delhi – 110 001. Sir, Since the General Elections are going to be held shortly, we wish to draw your attention to the following. You are aware that in the recent years, bad loans have increased alarmingly as under: 31.03.2008 - 39,030 crores 31.03.2009 - 44,954 crores 31.03.2010 - 59,927 crores 31.03.2011 - 74,664 crores 31.03.2012 - 1,17,000 crores 31.03.2013 - 1,64,461 crores In addition, every year huge amounts of profits of the Banks are being utilised to provide against bad loans: For 2008 – 2009 : 11,121 crores For 2009 – 2010 : 18,036 crores For 2010 – 2011 : 29,380 crores For 2011 – 2012 : 38,177 crores For 2012 - 2013 : 43,102 crores For last 5 years : 1,40,266 crores Further the following huge amounts of bad loans have been actually written off: For 2008 – 2009 - 15,995 crores For 2009 – 2010 - 25,010 crores For 2010 – 2011 - 23,895 crores For 2011 – 2012 - 20,892 crores For 2012 – 2013 - 32,218 crores In last 5 years - 1,18,010 crores What is disturbing is that amounts involved in willful default of bank loans are also increasing. Some of these defaulters are holding high positions. One of the borrower company in which a Central Minister is directly connected is also a defaulter to the tune of Rs. 350 crores. Two top loan defaulters are Padma Sri Awardees and owing to Banks Rs. 930 cores and Rs. 580 crores respectively . Another top defaulter is a member of the Rajya Sabha owing to the Banks more than Rs. 6000 crores. Hence, besides various other existing disqualifications as provided under the Constitution and the Representation of People Act, 1951, a specific provision should be added to debar and disqualify candidates from contesting in the ensuing elections to the Lok Sabha, if they or the companies in which they are connected are defaulters of loans to Banks. We seek your urgent attention in this regard for doing the needful. Thanking you, Yours faithfully, GENERAL SECRETARY”
Posted on: Wed, 19 Mar 2014 08:14:29 +0000
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