As of now, Sambhaji Patil Nilangekar is thick in the cut and thrust of an election campaign in Latur, apparently entirely unaffected by this episode. The BJP Maharashtra general secretary and Labour Minister’s company Victoria Agro Food Processing owed approximately ₹62.85 crore to two public sector banks but settled for just ₹25.5 crore, with over ₹50 crore written off.
In part two of a three-part series on how the Modi government pushed banks into repeatedly lending to cronies, read the story of a Surat-based transporter with links to PM Modi. SVLL promoter Roop Chand Baid had close connections to Modi, supplying specialized video trucks with 3D projection technology for his 2014 election campaign. The company allegedly misutilized ₹629.84 crore of ₹933.25 crore in loans.
This Newsclick exclusive is Part 1 of a three-part series on how the Modi government pushed banks into repeatedly lending to cronies, adding to the bad loan mountain. A company linked to Union Minister Nitin Gadkari allegedly received loans from Bank of Maharashtra in violation of the bank’s own policies and received multiple subsequent loans to prevent the account from becoming an NPA.
