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Modi government protecting GSPC from being declared bankrupt: Jairam (Lead)

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New Delhi, Aug 27 (IANS) Citing an RBI notification, Congress leader Jairam Ramesh on Monday demanded that the SBI should declare Gujarat State Petroleum Corp (GSPC) bankrupt and said the company owed Rs 12,000 crore to several banks.

He accused the Modi government of trying to protect the company from being declared bankrupt.

Ramesh said that on February 12, the Reserve Bank of India issued a circular stating that any company that owed more than Rs 2,000 crore to banks should be declared bankrupt within 180 days.

“GSPC’s highest debt is from SBI, which is Rs 1,200 crore. According to RBI’s notification, SBI should declare GSPC bankrupt,” said Ramesh.

“Last month GSPC submitted a 15-page document, entitled ‘Gujarat State Petroleum Corp Debt Resolution Plan’ to SBI for the restructuring of outstanding loan. Therefore, it is beyond any doubt that GSPC is not in a position to repay the loan,” he added.

Ramesh said: “GSPC has also suggested to transfer a portion of this outstanding loan to the Gujarat State Financial Services (GSFS) and Gujarat State Investment Ltd (GSIL).”

During Prime Minister Narendra Modi’s term as Gujarat Chief Minister, the GSPC was cited as one of the greatest examples of the Gujarat Model.

“In 70 years, for the first time the Central government has filed an affidavit challenging a circular of the RBI in High Court with the only intention of saving GSPC,” said Ramesh.

“In its affidavit, the government said they are not in agreement with the RBI circular and the period of 180 days needed to be extended to 360 days. Some power companies have moved the court, which includes Adani Power. So, this is another big scam after Rafale Deal,” he added.

He said SBI was under pressure to take a decision on the loan restructuring to avoid GSPC being declared bankrupt, because in case it was declared bankrupt, it would be a huge blow to the Prime Minister.

Even after the sanction of Rs 20,000 crore to GSPC, no oil or gas was extracted, he said.

Ramesh said this raised questions about the priorities and intentions of Modi. “The PM has not spoken a word on the GSPC issue after 2007. Why is he silent?”

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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