Cong slams govt on Frost International bank fraud

The Congress has slammed the government for not taking timely action against the directors of Frost International which is alleged to have defrauded banks to the tune of Rs 3,592 crore.

Congress spokesperson Jaiveer Shergill has alleged that it was the government that prevented the lodging of complaint in the scam.

"When the consortium of lending banks had authorised registration of complaint on June 15, 2019, why did it take more than seven months to register a complaint? Was someone in the BJP government preventing the registration of complaint?" Shergill questioned.

"When the PSBs having government nominees on board were aware that the company is unable to return the money, why did it take them a year to request the MHA to issue a lookout notice?" he said.

The Congress also queried as to why the lookout notice was delayed.

"Despite issuance of LOC on January 18, 2019, why and on whose directions in the BJP government did the investigating agencies not register a case till January 19, 2020 for an entire year against the suspected offenders who remain untraceable till date?" said Shergill.

Congress alleged the total bank fraud during the BJP's tenure amounted to over Rs 2.7 lakh crore.IANS