After the Corona crisis, the way the Modi government has waived Rs 68,607 crore of the top 50 bank loan defaulters is the most happening thing in the country. Yes, you read it right and this list includes Nirav Modi, Vijay Mallya, Mehul Choksi e.t.c.
Many of these industrialists and Businessmen take loans from Bank and starts a venture. If their company suffers loss and their share values goes down, they can’t pay the loan amount along with interest and goes abroad. The government which has huge money from the taxes of the Indian Citizens pays the bank feared of the possible economic crisis.
Among these top-50 alone waivers and defaulters, there are few names that relate to Chandra Babu Naidu and AP CM Jagan Mohan Reddy. Deccan Chronicle owner Venkat Rami Reddy shares a close relationship with politicians, Ex-MP Rayapati Samba Siva Rao (Transtroy Company) who a close acquaintance of Naidu and the accused in Jagan’s disproportionate assets case, Syam Prasad Reddy (Indu Projects) are featured in this list.
Everyone knows who Samba Siva Rao and Syam Prasad Reddy for Chandra Babu and Jagan simultaneously. So, why our political leaders have relations with this kind of defaulters, and what is their role in these businesses?
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