Oppn seeks Railway Minister's ouster over link with company defaulting Rs 650-cr

Agencies
April 11, 2018

New Delhi, Apr 11: The Congress on Wednesday alleged "impropriety" and "conflict of interest" on the part of Railway Minister Piyush Goyal, saying a company associated with him in the past was given a "haircut" loan waiver of 65 per cent on the outstanding loan amount of over Rs 650 crore.

The party sought his removal from the Union Cabinet and a judicial investigation by a Supreme Court judge into the case.

Talking to the media, Congress leader Ghulam Nabi Azad said: "A damning tale of conflict of interest, sweetened deals, gross impropriety and bank loan defaults by Shirdi Industries Ltd with past and present affiliation to Piyush Goyal and his family is out in open."

Azad, who was accompanied by party leader M. Veerapa Moily and party spokesperson Pawan Khera, said Goyal was chairman and full-time director of Shirdi Industries Ltd from April 25, 2008 to July 1, 2010. The company had worked out a loan of Rs 258.62 crore from a consortium of banks headed by the Union Bank of India.

The Congress leader said that Shirdi Industries was declared sick on June 8, 2015, almost a year after the Modi government came to power.

"Despite Shirdi Industries Ltd (of Rakesh Agarwal and Mukesh Bansal) being declared 'sick', their sister company Asis Industries proceeded to grant an unsecured loan of Rs 1.59 crore in 2015-16 to Intercon Advisors Pvt Ltd, a company owned by Seema Goyal, the wife of the Union Minister," he alleged.

Azad said Goyal was also director of this company from September 15, 2005 to July 22, 2013.

He said that Insolvency and Bankruptcy Code Amending Act, 2017 prohibits a promoter of sick company from submitting bids before the National Company Law Tribunal (NCLT).

"Shirdi Industries went to NCLT. Outstanding loan amount of consortium of banks was Rs 651.87 crore. Shockingly, the consortium of banks agreed to take a haircut (waiver) of 65 per cent of loan amount and settled for Rs 228.85 crore," he said.

"Surprisingly, no one raised an objection that the promoter of Shirdi Industries could not make a bid in view of the prohibitions contained in the insolvency code," he added.

The Congress leader alleged that Rakesh Agarwal of Shridi Industries was "proximate" to Goyal as he was the director in another company along with the brother of Union Minister.

He said Piyush Goyal and his wife were directors in another company and were succeeded by the sons of Agarwal and Bansal.

"The web of corporate entities that ties Piyush Goyal and his family to Rakesh Agarwal/ Mukesh Bansal is glaringly apparent," Azad stressed.

Raising questions, the Congress leaders asked if it was "not a clear-cut case of conflict of interest and impropriety" on the part of Goyal.

The party asked if Goyal had declared his status as a chairman/whole-time director of Shirdi Industries as Rs 258.62 crore loan was raised from the UBI consortium.

It asked why Goyal had not declared the unsecured loan given to his wife's company in his public filing available on the PMO website.

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News Network
December 23,2025

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A Pakistani lawmaker has called out the hypocrisy of his country's leadership, drawing a parallel between Islamabad's military actions against Kabul and India's 'Operation Sindoor'.

Condemning the Pakistan army, led by Asim Munir, for strikes on Afghanistan - which resulted in civilian casualties - Jamiat Ulema-e-Islam-F (JUI-F) chief Maulana Fazlur Rehman questioned the consistency of Islamabad's logic. He argued that if Pakistan's cross-border attacks are considered justified, then the country has little ground to object when India enters Pakistani territory to eliminate terrorists.

Rehman was addressing the 'Majlis-e-Ittehad-e-Ummat' conference on Monday in Karachi's Lyari. The town recently gained international attention as the setting for the Ranveer Singh-starrer Dhurandhar, which depicted the intersection of informants and operatives within the Lyari underworld.

"If you say that we attacked our enemy in Afghanistan and justify this, then India can also say that it attacked Bahawalpur, Muridke, and the headquarters of groups responsible for the attack in Kashmir," Rehman said, referring to India's retaliatory strikes. "Then how can you raise objections? The same accusations are now being levelled against Pakistan by Afghanistan. How do you justify both positions?"

The JUI-F chief's remarks specifically referenced 'Operation Sindoor'.

On May 7, Indian armed forces carried out pre-dawn missile strikes on nine terror targets in Pakistan and Pakistan-occupied Kashmir, including the Jaish-e-Mohammad stronghold of Bahawalpur and Lashkar-e-Taiba's base in Muridke.

Pak-Afghanistan Tension

Fazlur Rehman has been a consistent critic of the Pakistani government's policy towards Afghanistan. In October, during a peak in bilateral tensions, he offered to mediate between the two nations. According to a Dawn report, he stated, "In the past, I have played a role in reducing tensions between Pakistan and Afghanistan, and I can still do so."

Rehman is known to wield significant influence within the region and remains the only Pakistani lawmaker to have met with the Taliban's supreme leader, Haibatullah Akhundzada.

Recently, India condemned Pakistan's fresh strikes on Afghanistan. "We have seen reports of border clashes in which several Afghan civilians have been killed," Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal said at a weekly media briefing.

"We condemn such attacks on innocent Afghan people. India strongly supports the territorial integrity, sovereignty and independence of Afghanistan," he said.

A spokesperson for the Taliban regime claimed Pakistan initiated the attacks and that Kabul was "forced to respond".

The two countries have been locked in an increasingly bitter dispute since the Taliban authorities retook control in Kabul in 2021, with Islamabad accusing its neighbour of harbouring terrorists - a charge that the Afghan government denies.

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News Network
December 16,2025

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The deletion of over 58 lakh names from West Bengal’s draft electoral rolls following a Special Intensive Revision (SIR) has sparked widespread concern and is likely to deepen political tensions in the poll-bound state.

According to the Election Commission, the revision exercise has identified 24 lakh voters as deceased, 19 lakh as relocated, 12 lakh as missing, and 1.3 lakh as duplicate entries. The draft list, published after the completion of the first phase of SIR, aims to remove errors and duplication from the electoral rolls.

However, the scale of deletions has raised fears that a large number of eligible voters may have been wrongly excluded. The Election Commission has said that individuals whose names are missing can file objections and seek corrections. The final voter list is scheduled to be published in February next year, after which the Assembly election announcement is expected. Notably, the last Special Intensive Revision in Bengal was conducted in 2002.

The development has intensified the political row over the SIR process. Chief Minister Mamata Banerjee and her Trinamool Congress have strongly opposed the exercise, accusing the Centre and the Election Commission of attempting to disenfranchise lakhs of voters ahead of the elections.

Addressing a rally in Krishnanagar earlier this month, Banerjee urged people to protest if their names were removed from the voter list, alleging intimidation during elections and warning of serious consequences if voting rights were taken away.

The BJP, meanwhile, has defended the revision and accused the Trinamool Congress of politicising the issue to protect what it claims is an illegal voter base. Leader of the Opposition Suvendu Adhikari alleged that the ruling party fears losing power due to the removal of deceased, fake, and illegal voters.

The controversy comes amid earlier allegations by the Trinamool Congress that excessive work pressure during the SIR led to the deaths by suicide of some Booth Level Officers (BLOs), for which the party blamed the Election Commission. With the draft list now out, another round of political confrontation appears imminent.

As objections begin to be filed, the focus will be on whether the correction mechanism is accessible, transparent, and timely—critical factors in ensuring that no eligible voter is denied their democratic right ahead of a crucial election.

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