A wilful defaulter whose promoter flaunted his proximity to PM

Mangalore Today News Network

Delhi, May 09, 2016: While Vijay Mallya and Kingfisher Airlines continue to remain in the news over the alleged Rs 9,000 crore owed to public sector banks, not much has been heard about Rs 1.14 lakh crore of bad loans written off by 29 public sector banks involving numerous defaulters in the last three years between financial years 2013 and 2015, much more than they had done in the preceding nine years.

On April 23, Congress leader Digvijay Singh wrote a five-page letter with 17 annexes to Finance Minister Arun Jaitley, singling out the case of one such wilful defaulter:

While Singh’s letter goes on to make various other allegations, the most sensational happens to be a letter attached as Annexure 9, purportedly written by “RC Baids”, "Founder, Siddhi Vinayak Logistics Limited” on September 16, 2014 to Bank of Maharashtra, Pune:

The letter reads:


Today, we are truly grateful to have been associated with you and extremely grateful for your support for standing by us in all times.

 

We feel extremely proud to bring to your notice the support extended to us by our honorable Prime Minister Shri Narendra Modiji, for our initiative of Driver’s Day, a day that we initiated to appreciate the contribution of Drivers to our life and the Indian Economy.

The message, purported to be from the prime minister in Hindi, which is enclosed, says:

 It is a matter of great pleasure that Siddhi Vinayak Logistic Limited is celebrating 17 September 2014 as Driver’s Day. This step to recognise drivers’ contributions is commendable.

As Annexure 8 is attached to an earlier letter dated June 11, 2014, this one purportedly carrying the signature of Roop Chand Baid, explains the delay in repaying the loan amount. This letter is addressed to the Assistant General Manager, Bank of Maharashtra, Deccan Gymkhana Branch, Pune.