19/07/2023
👇Smart move by PM
Understand what is NCLT?
This story begins after the Bankruptcy of Bhushan Power & Steel. You cannot recover money from such companies after they declare Bankruptcy. There was no such Law earlier in India which answered that if someone becomes insolvent, then how to recover money from him? ? ?
Till now it was like this.
This Government came to Power in 2014 and NCLT (National Company Law Tribunal) was created.
Now whichever company is Insolvent, will have to go to NCLT. There will be bidding to buy the company. The company will be auctioned and the money will be given to the Creditors, such as Banks, etc, after recovery, so that the NPAs of the Banks do not increase.
Now talk of Bhushan Power & Steel and its owner Sanjay Singhal. His company was declared Bankrupt 18 months ago. They owed PNB Bank Rs 47,000 crore. When the auction bidding started, Tata Steel, Jindal and UK's Liberty House bid. Now the decision has to come from the NCLT Court as to which company's bid has been accepted. Then the same company will be given Bhushan Steel and the Bank's Loan will also be repaid.
Now the climax has come, when the owner of Bhushan Steel and Power has placed an offer in front of NCLT that 'they will repay the loan of 47,000 Crores of Banks, but don't auction their company.'
*Now the public has to think that how many such industrialists have reaped undue benefits by not paying Bank Loans and going bankrupt in the time of previous governments of one particular family.*
Now they have to repay all their loans. And all this was possible due to the laws made by the Modi Government and the formation of institutions like NCLT. That is why Modiji says that "I have filled the loop holes (pits) of Congres's time". So it doesn't seem like an exaggeration at all.
Almost the same story is also of Ruia Brothers and Essar Steel. They also did not feel like repaying their Bank's Loans and went bankrupt. Lakshmi Mittal, Mittal Steels have placed bids in NCLT but now Rs 54,000 crore have come to Ruia Brothers and they are requesting that they take over their company and don't sell it and take 54,000 crore from them too.
Now these Camels have come under the Mountain. Till now, they have made a lot of money by duping our Banks and our Country and also made their Masters (Khandani Sarkar i.e. Congress) rich. But now this is the Government of 'Chowkidar' and on one of it's calls, a long line of Chowkidars has arisen across the country. Such Anti-National elements will have to fear now.
*You have to decide whether to hand over our Country to the Robbers who Loot you, or to the Watchman who Protects you.*
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