Bank role In DLF case Related to Mr Vadra
This relates to sanction of unsecured loan of Rs.60.00 crores by DLF to Mr. Robert Vadra , son-in-law of Sonia Gandhi, High Command Congress Party and then selling of costly properties to same Mr. Vadra at negligible price is by no means a good act from banking point or from investor's point of view.In lieu of such charity , DLF gets reportedly huge area of land at negligible cost by state government of Harayana and that of Delhi. This is clearly misuse of power .
This report is true or false ,I do not know but it is hundred percent certain that this story will become a matter of history very soon.The question is who will investigate? CBI, IT or ED , none has the courage to expose and accept the bitter truth.
This report is true or false ,I do not know but it is hundred percent certain that this story will become a matter of history very soon.The question is who will investigate? CBI, IT or ED , none has the courage to expose and accept the bitter truth.
Similarly , it is true that sanction of unsecured interest free loan by DLF to its own buyer is gross violation of bank's norms stipulated for compliance by loan sanctioning bank. Credit officials should have objected such entry even before sanction of such loans. But unfortunately Credit processing officer in a bank which prepares proposal for sanction of loan to companies like DLF normally do not want to raise such points at least when the case is related to high profile person or companies which are having good relation with ED or CMD or top ranked officers of the bank.
Normally when ED or CMD make a call to subordinate office to sanction a credit proposal, none of the officers have guts to focus on negative points in proposal, rather they polarize all positive points of the credit proposal and all members of Credit Approval Committee (CAC) put their signature without any objection.
In most of the credit proposals when the company has many sister concerns, the diversion of fund from one company to other sister concern companies is very much common. In the case of DLF, the sanction of unsecured loan to son-in-law of High command of ruling party was taken very casually and bank might have treated such unsecured loan as loan given to affiliates or to suppliers of inputs.
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