April 14, 2019

Page 1

Nagaland Post www.nagalandpost.com

Vol XXIX No. 127

DIMAPUR, SUNDAY, APRIL 14, 2019 Pages 12 ` 5.00

12th Open Naga Wrestling 2019 - A REVIEW

SPAL stun Juventus 2-1 in Serie A

Mamata slams BJP for armed rallies on Ram Navmi

Sunday Post Supplement

sports, Page 12

national, Page 5

Over `7 lakh cr bad loans written off

MUMBAI, APR 13 (AGENCIES): With the government stepping in time and again to bail out banks by recapitalising them with taxpayer money, banks have stepped up writeoffs of loans taken by rogue borrowers. They wrote off a whopping Rs 1,56,702 crore of non-performing loans during the nine-month ended December 2018, taking the total loan writeoff to over Rs 7,00,000 crore in the last 10 years, according to figures revealed by the Reserve Bank of India (RBI). Bulk of the writeoffs, or almost four-fifth of the total amount written off in the last 10 years, have accrued in the last five years since April 2014. In its reply to an application filed by The Indian Express, the RBI revealed that the total loan written off in the last five years since April 2014 amounted to Rs 5,55,603 crore. Eager to show lower bad loans, banks wrote off Rs 1,08,374 crore in 201617 and Rs 161,328 crore in 2017-18. In the first six months of 2018-19, they wrote off Rs 82,799 crore. The quantum of writeoff zoomed to Rs 64,000 crore

in the October-December 2018 quarter. Banking sources said very little is known about the identity of the borrowers and the amount written off in the case of individual borrowers. While banks claim that the recovery measures continue even after loans are written off, sources said not more than 15-20 per cent is recovered and the writeoff figures every year are rising, much faster than recoveries and recapitalisation. “Banks are required to extinguish all available means of recovery before writing off any account fully or partly. It is observed that some banks are resorting to technical writeoff of accounts, which reduces incentives to recover. Banks resorting to partial and technical writeoffs should not show the remaining part of the loan as standard asset,” the RBI had said in an earlier circular to banks. The amount of technical writeoff is required to be certified by statutory auditors. The central bank had explained that writing off NPAs is a regular exercise carried. “A substantial portion of this writeoff is,

however, technical in nature. It is primarily intended at cleansing the balance sheet and achieving taxation efficiency. In ‘Technically Written Off ’ ‘accounts, loans are written off from the books at the Head Office, without foregoing the right to recovery. Further, writeoffs are generally carried out against accumulated provisions made for such loans. Once recovered, the provisions made for those loans flow back into the profit and loss account of banks,” the RBI had said in an explanatory note. But neither the banking sector nor the RBI discloses the identity of borrowers whose loans are written off by banks. “I have nothing against writeoff but it’s to be done scarcely and within a policy with all efforts to recover the money. Any asset which is backed by tangible asset is never written off. You must be subject to scrutiny for these writeoffs. There must be a policy. You ask any banker. They have written off Vijay Mallya’s loan. Then how are they going to recover that money? All I am saying is that write off the loan as per policy but that has to be done by

somebody who is authorised to do it. Use it sparingly and do it where essential. If there’s an asset, why are you writing it off ?” a former RBI official said. The government had last year announced a recapitalization programme of Rs 2.11 lakh crore to bail out banks which are now stuck with over Rs 10 lakh crore NPAs. Bank unions have long been demanding the govern-

Load shedding in parts of Dmu

14 NE girls sold to persons in Saudi Arabia, reveals probe

Voter turnout: LS polls 83.12%, by-poll 84.35%

DIMAPUR, APR 13 (NPN): Department of Power has informed electricity consumers under Electrical Sub-Division No I Dimapur that due to proposed maintenance work at 10 MVA x2 power transformer at Metha control Dimapur, load shedding would be imposed for about 2-3 hours alternately. In a press note, Dimapur Electrical Division executive engineer Imsenkaba informed that the maintenance work was scheduled to start at 9 am on April 14, 2019. Areas to be affected: Lhomthi colony, Sechu colony, Zeliangrong colony, Westyard, Army Supply, Old Daily market, Kalibari road, Sematilla, Hongkong market, MP Road, Naga Bazar, New Market, GS Road, Church road, Circular road (Chishi Mkt complex line), NST colony, Station road, Eros lane, MST colony, Church colony, Notun Bosti Ao Khel, LRC colony, Lake View, Naga cemetery, Island colony, Khermahal, Golaghat road, Niesatuo colony, River belt, Notun Bosti, Supply colony, Nepali Bosti, Fellowship colony, Circular road (Holy cross line), Circular road (LIC Building line), SIB, Nagaland Post, Forest colony, PWD colony, Residency colony, Land mark, Midland.

This is it!

“Our government should also declare free tractors, free electricity and loan waiver .” K Y M C

GUWAHATI, APR 13 (AGENCIES): A notorious human trafficker, who was recently arrested by Lucknow Police, has confessed that 14 girls from the North East region were sold to persons in Saudi Arabia, Assam Tribune report stated. The girls were mostly promised jobs of nursing attendants. The kingpin of the human trafficking racket has been identified as Rumana Begum, who had allegedly trafficked many girls from across the country, including North East. The sensational revelation came a day after Uttar Pradesh Police busted a trans-national human trafficking racket where a girl hailing from Tripura was rescued on her way to be trafficked to Dubai on April 10. The victim is likely to be brought back to her native

place soon. Sources informed that the victims were taken to Dubai in the name of providing lucrative jobs, but were subsequently sold in places like Dubai. “Their passports are seized once they reach there and are exploited sexually and physically,” a source privy to the development said. A team of Lucknow Police has already left for Mumbai based on the call detail records of the arrested trafficker. Rishi Kant of Shakti Vahini, a leading organization working against human trafficking, told the Assam Tribune, “We believe, if investigated simultaneously in Tripura, Mumbai and Lucknow, which in this case are source, transit and destination respectively, more shocking development would emerge.”

ment to make public names of defaulters. “It is known that bulk of these bad loans are attributable to big businesses and the affluent. Many cases of default are found to be deliberate, wilful and on account of diversion of funds. Unfortunately bank loan default is still a civil offence and hence criminal proceedings are not being instituted against them,” AIBEA general secretary C H Venkatachalam said.

Modi govt wrote off Rs 5.5 lakh cr loans of its ‘blue-eyed’ boys, says Congress

Congress on Saturday accused the Narendra Modi government of writing off Rs 5.5 lakh crore in loans of its “blue-eyed boys” and said it was the worst example of crony capitalism. Citing a news report, Congress spokesperson Abhishek Manu Singhvi accused the government of “favouritism”. “Crony capitalism’s worst example is this. In the last 10 years, the total write off was Rs 7 lakh crore. Out of this Rs 5.5 lakh crore has been written off under Modiji. This means 80 per cent write offs have happened during the Modi government’s tenure. “The excuse given frequently is that writing off loan in the books does not mean that the loan is waived. But, that is a very illusory, a very tactical argument. The reality is that when a bank writes off a loan, the incentive to recover is virtually nil,” he said. Alleging that the Modi government rested on the twin pillars of “cronyism and loot”, Singhvi challenged the government to reveal the names of those whose loans have been written off.

Correspondent

KOHIMA, APR 13 (NPN): Nagaland parliamentary constituency election 2019 and 26 Aonglenden assembly constituency by-poll recorded 83.12% and 84.35% polling respectively. According to CEO office, out of the total 1206287 electorate for LS poll, 10,02,670 voters including 5,07,404 male and 4,95,266 female exercised their adult franchise on polling day. The voter turnout in this election is 5.13% lesser compared to the 88.25% figure in the 2014 Lok Sabha polls. As per report of CEO, the poll percentage of Aonglenden A/C differed on the day of polling and as of today. CEO office recorded a poll percentage of 84.35% as of April 13, whereas on April 11, the percentage was 88.5%.

Anil Ambani got 143.7 mn euro tax waiver after Rafale jet deal: French newspaper NEW DELHI, APR 13 (PTI): France waived taxes worth 143.7 million euros to a French-registered telecom subsidiary of Anil Ambani’s Reliance Communications in 2015, months after Prime Minister Modi’s announcement of buying 36 Rafale jets, leading French newspaper Le Monde reported Saturday, giving a fresh twist to the deal in the middle of the Lok Sabha polls. While the French embassy here said a global settlement was reached with the firm under legislative and regulatory framework, the defence ministry said any connections drawn between the tax issue and the Rafale deal was totally “inaccurate” and “tendentious”. In October 2015, six months after Modi announced in Paris about the Rafale deal, the French tax authorities accepted 7.3 million euros from Reliance Flag Atlantic France as a settlement as against original demand of 151 million euros, the French newspaper reported. As per current exchange rate, the amount waived was Rs 1,123 crore.

Anil Ambani (File)

Following the report, the Congress stepped up its attack on the government on Rafale deal and alleged that Reliance received the tax waiver due to Modi’s “blessings” and that he acted as a “middleman” for Ambani. In its reaction, Reliance Communications rejected any wrongdoing and said the tax dispute was settled under legal framework which is available for all companies operating in France. Modi had announced the procurement of a batch of 36 Rafale jets after talks with the then French President Francois Hollande on April 10, 2015 in Paris. The final deal was sealed on September 23, 2016. The Congress has been alleging massive irregularities in the deal and has been

Priyanka ready to contest against Modi NEW DELHI, APR 13 (AGENCIES): Priyanka Gandhi Vadra, who recently made her political debut by taking over as the AICC general secretary in charge of Uttar Pradesh (East), might be pitted against Prime Minister Narendra Modi in the Lok Sabha elections. According to reports, Priyanka has agreed to contest from Modi’s constituency, Varanasi, and the final decision will be taken by the High Command. According to sources, Priyanka is ready to take on the fight with Modi, after serious considerations, from Varanasi. She has already agreed to contest the poll. However, the final call rests with Congress president Rahul Gandhi. Interestingly, earlier in March when Priyanka was urged by her party supporters to contest from Rae Bareilly or Amethi, she apparently responded

Priyanka Gandhi Vadra

Narendra Modi

in a lighter vein ‘why not Varanasi!’. The Congress general secretary had said that she would contest the Lok Sabha election if the party wanted her to do so. Uttar Pradesh will go to polls in seven phases, from April 11 to May 19. The counting of votes will take place on May 23. In last elections in Varanasi, Modi won 5,81,022 votes defeating AAP leader Arvind Kejriwal who won 2,09,238 votes. The PM won by 3,71,784 votes.

In March, Priyanka was on a three-day long “Ganga Yatra” from Prayagraj to Varanasi. Her tour focused on “Sanchi Baat Priyanka ke Saath” in which she talked to people during her 140 kilometres long travel on a steamer boat to Assi Ghat in Varanasi. Priyanka had earlier criticised PM for not visiting a single village of his Varanasi constituency. Priyanka has called the Lok Sabha election a “new freedom struggle”.

Konyak organizations flay assault on minor girl NDPP, NPF express gratitude KOHIMA, APR 13 (NPN): Konyak organisations have strongly condemned the assault on a 13-year old minor girl by a government servant and his wife in Kohima. Konyak Students’ Union Kohima (KSUK) president Hongpe and Longchang Area Union Kohima (LAUK) president Pelü Konyak disclosed that the victim was working as a domestic helper with the couple since March 13, 2019. They described the assault on the minor as “inhuman and beyond human tolerance” that went on regularly. The images of the victim with bruises on her body went viral on social media. The Unions revealed that FIR has been lodged against the couple and also appealed to the responsible authority to immediately book the culprits and mete out befitting punishment as per the law of the land. Further, the unions also warned that they would not be held responsible for “any eventualities that may

arise out of the loophole in the course of adjudication.” They have also appealed to all the right thinking citizens to condemn the “inhuman act” and also urged upon the law enforcing authority to deliver justice and also not to grant bail to the accused persons at any cost. When contacted, KSUK president Hongpe disclosed that the incident came to light after the union was informed by some friends of the union. On learning of the incident, Hogpe said he and the union finance secretary Champong and KNSK Kohima unit team rushed to the house where the victim was working. On being questioned, Hongpe said the couple initially denied the assault but when questioned about the bruises, the wife admitted to have only pulled the girl’s ear. When Konyak Nyupuh Sheko Khong (KNSK) members insisted on checking the minor,

the girl bore severe bruises and scars. It was reported that the victim was made to apply “foundation cream” on the affected parts to hide the bruises. Hongpe regretted that instead of admitting to their fault, the couple defended themselves and even insulted the KSUK and KNSK Kohima unit. In particular, he said it was unfortunate that an officer of such stature could go to such an extent. KSUK president also expressed shock that despite repeated appeals not to send their children as domestic helpers, parents continued to do so. He said such children are made to suffer at the hands of such “guardians”. He expressed confidence that justice would be done and also appreciated the Child-line home for rescuing the victim. KNSK Kohima unit: Konyak Nyupuh Sheko Khong (KNSK) Kohima Unit has also condemned the assault on the (Cont’d on p-7) minor girl.

DIMAPUR, APR 13 (NPN): Ruling Nationalist Democratic Progressive Party (NDPP) has expressed gratitude to the people including Church bodies, civil society organizations, tribal hohos and all political parties, for ensuring a peaceful, free and fair conduct of the recently concluded elections to the lone Lok Sabah seat and the by-election to the 26 Aonglenden assembly constituency. NDPP media & communication committee said that the maturity of the people displayed during the polls, led to the peaceful, free and fair conduct of the elections. Further, NDPP said though political parties with their own ideologies, manifestos and programmes contest as opponents against each other in elections, yet they are not enemies. It also appreciated political opponents coming out with manifestos and candidates to contest the elections and keeping the spirit of democracy alive and burning. NDPP also said it had tried its best, to maintain dignity and integrity in all aspects throughout the campaign period by desisting from making any personal attacks on opponents and also from hitting any individual or party “below the (Cont’d on p-7) belt.”

NPFLP grateful

NPF Legislature Party (NPFLP) has expressed gratitude to the citizens of Nagaland for extending support to the NPF/INC consensus candidate KL Chishi in the recently concluded Lok Sabha election. During the meeting held on Saturday at the residence of NPF legislature party leader, T.R. Zeliang, the party also several resolutions wherein the party also expressed sincere gratitude to all those individuals who had consciously voted for issue(s). The legislature party also acknowledged all rank and file of the NPF for the selfless services rendered towards the successful participation in the conduct of the parliamentary election. The party further reiterated its commitment to the Naga Political issue, to go against Citizenship (Amendment) Bill and Uniform Civil Code, and also resolved to defend and protect secularism.

targeting the government over selection of Ambaniowned Reliance Defence as an offset partner for Dassault Aviation. The government has rejected the allegations. The French embassy, in a statement, said a global settlement was reached between the French tax authorities and Reliance company, in a tax dispute pertaining to the period 2008-2012. The defence ministry said neither the period of the tax concession nor the subject matter of the concession relate even remotely to the Rafale procurement. The French newspaper said the company was investigated by French tax authorities and found liable to pay 60 million euros in taxes for the period 2007 to 2010. However, Reliance offered to pay 7.6 million euros only as a settlement but it was French tax authorities refused to accept the amount. The authorities conducted another probe for the period 2010 to 2012 and asked the company to pay an additional 91 million euros in taxes, the report said.

1 held in connection with fake letters, docs DIMAPUR, APR 13 (NPN): Nagaland police cyber cell unit on Saturday arrested one person in connection with the “fake letters/document” written on the letter head of Nagaland chief minister and NDPP writing pad bearing signatures of chief minister Neiphiu Rio and NDPP president Chingwang Konyak. The fake letters/documents went viral on social media after which the NDPP filed a police complaint to arrest those responsible. According to sources, the cyber cell unit reportedly located the person under whose name the SIM card was registered. However, it turned out that the arrested person had no connection with the fake letters/documents. It was suspected that the registered SIM may have been disposed by the registered owner and misused by the culprit/s after obtaining it from the black market. (Staff Reporter)

Kohima traffic rules

DIMAPUR, APR 13 (NPN): In view of the ongoing road construction works on National Highway 29, Kohima police have informed that the stretch of road from Lerie Baptist Church to South Police Station Junction would remain closed for all forms of vehicular traffic from 7am onwards on April 14, 2019. In a press release, Kohima police PRO advised all light vehicles heading towards Phesama/Khuzama from Kohima Town and vice versa to take the alternate route via Ministers’ Hill-Aradura-Phesama. Police, however, informed that no heavy vehicle would be allowed to ply along that route. Inter-state heavy vehicles would not be allowed to enter Kohima Town till the completion of the construction works, police stated. K Y M C


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