Two BJP MPs have levelled allegations of malpractices against the professional in-charge of the insolvency resolution process of Topworth Steels and Power, an ailing company promoted by Abhay Lodha and Surendra Lodha. Documents with NewsClick suggest that after the resolution professional discovered fraudulent transactions in the company, his dismissal was sought by the two MPs. An exclusive investigation.
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.
The biggest-ever change in India’s shipping policy, undertaken by the Modi government, is expected to endow huge benefits to a small clutch of international and domestic shipping companies.
