Infringement on Judiciary
Parthasarathi Loganathan
(Querist) 12 August 2010
This query is : Resolved
LAYMAN NEWS:
The Finance Minister, Mr Pranab Mukherjee, spurned the demand of certain Members of Parliament to disclose the names of corporates defaulting in loan repayment to public sector banks.
The disclosure of their names in a public forum (such as Parliament) will make the banking industry more sick, Mr Mukherjee told the Lok Sabha. He also highlighted the aspect of confidentiality clauses (in loan agreements) coming in the way of releasing the names of defaulters.
“If this (disclosing names) is done, a person will be declared insolvent even before the Court declares them (defaulters) as insolvent. And whatever possibility of recovering money from them will go. It will be depositors' money that will be lost (if we disclose)”, he said.
LAWMAN'S VIEWS:
It is a clear case of influencing or misleading the Judiciary to dictate terms by the Senior Minister who has no business to shield the Economic Offenders who are responsible for mounting NPA in the banking industry. It would also facililtate all the proclaimed defaulters to remain the dark under the shield of top bosses in the Government. It appears he must be more worried about the interests of Corporate NPA borrowers than that of the depositors who save their hard earned money in Public Sector Banks.
I want our experts to post their opinion on Minister's statement infringing the basic tenets of our Judicial Administration System
s.subramanian
(Expert) 12 August 2010
I fully agree with and endorse your views strongly Mr.P.L. It is case of corrupt shielding the corrupt throwing the national welfare,interest and the judiciary to dust.
