IDBI to disclose details of loan-default

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Dear Editor,
It refers to welcome CIC-verdict against IDBI Bank wherein the bank is directed to provide all details of loan-default by infamous Kingdom of Dreams of Gurgaon (Haryana). Central Information Commission in its verdict has elaborated shocking revelations about a big scam wherein even the structure built on short-term (fifteen years) leased land was hypothecated by IDBI Bank. CIC-verdict also points out of annual lease-amount of rupees 36 lakhs not being paid by Great India Nautanki Company Limited (GINC) owning Kingdom of Dreams to Haryana Urban Development Authority (HUDA). GINC must not continue with Kingdom of Dreams and other features without paying the lease-amount for last so many years. A proper enquiry is now necessary in all matters related to GINC including also allotment of land and grant of bank-loan. Central government should draft a land-policy which may be applicable to all states whereby any allotment of land may be only through e-auction abolishing all types of discretionary allotment of land.
It may be mentioned that even Constitution Club in New Delhi continues to avail costly government-facilities including massive construction-work by Central Public works Department (CPWD) at huge costs without being able to produce any lease-agreement. Even revealed lease-rent of just rupees 1200 per annum is not shown paid in their audited balance-sheets against huge rental-income of about rupees 2.5 crores per annum! IDBI Bank should be categorized in normal category of other 29 public-sector banks, and all public-sector banks then should have uniform service-charges and interest-rates.
SUBHASH CHANDRA AGRAWAL
1775 Kucha Lattushah
Dariba, Chandni Chowk
DELHI 110006 (India)

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