Sir/Madam,
Since our NGO [ Services against all sort of Crimes and Corruption ] received a complaint from a woman worker named Mrs K Syamala in Sakthi Industries Vijayawada [ Andhra Pradesh] on ICICI Bank Ltd that said bank during the year 2006 in India while ignoring RBI COMPLAINTS AND GUIDELINES fraudulently diverted more than rupees thousand crores farmers loans to industries like Credit facilities around rupees four crores to above mentioned Sakthi Industries Vijayawada for the 10.5 % interest rates, but the said interest is all of sudden raised to 19.7 % during the year 2007 on serious complaints of RBI .
In this connection the recovery goondas employed by said bank started harassment to closure of said loan after illegal declaration of said unit as NPA on inhuman threats to murder the labor union president Mr G Srinivasulu & Secretary Mrs K Syamala who attended the meetings of loan settlement as representatives of more than 250 workers most of them are women workers only [ Since the management said Sakthi Industries Vijayawada decided to lock Out factory ] . These two workers approached our NGO and went to the organization Farmers Federation of India and decided to present the facts in the High Court of AP for directions to CBI, RBI and other probing authorities for appropriate enquiries in this regards.
Hence our organization wants to know facts that
1] How said ICICI Bank Ltd diverted farmers loans rupees more than thousand crores during the year 2006 to industries like Sakthi Industries Vijayawada
2] Why the said ICICI Bank Ltd raised the interest rates 10.5% to 19.7% to said Sakthi Industries Vijayawada all of sudden during the year 2007
3] On what procedure said Sakthi Industries Vijayawada is declared as NPA unit and demanded for immediate closure of the entire loan amount.
As the Sakthi Industries & Creations Vijayawada provided employment for more than 250 workers [ most of them are women workers ], the issue is initiated by our NGO in the interest of employees who are going to be deserted at the seizure of the unit although the RBI is very serious on bank in view of employment in SSI units and also very serious on food production since farmers loan rupees more than thousand crores is diverted to industries, above said information is requested to disclose the same in the interest of public justice. But the same is not at all provided yet to present appropriately for proper directions by the High Court of AP in this regards. The necessary correspondence is also enclosed herewith for information and necessary action.
With respectful regards
A Ramachandra Reddy
Chief Executive
Advocates & Journalists for Public Justice
16-8-908/7 New Malakpet
Hyderabad 500024, Andhra Pradesh
Phone & Fax No : 24414736
Mobile No : 9985108812
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Advocates & Journalists for Public Justice
AICPL-Regd 387
16-8-908/7, New Malakpet, Hyderabad-24, Ph & Fax : 24414736, Mobile: 9985108812, Email: [email protected]
Vigilance Services against Crimes & Corruption
Date : 08-03
To,
Sri Man Mohan Singh
Prime Minister of India
New Delhi
Sir,
Subject: Indian farmers are deceived and SSI units are in blackmail, thousands of farmers & workers are thrown into streets due to fraudulent, corrupt and totally bogus administration of ICICI Bank Ltd while ignoring the RBI guidelines may be viewed seriously to windup the entire business of said bank in the interest of great nation India - Regarding
Corrupt ICICI Bank authorities blackmailing to seize the SSI unit of Sakthi Industries Vijayawada where as more than 250 workers [most of them are women ] are going to loose the employments at the grave mistake of said ICICI Bank Ltd who diverted the formers loans rupees more than thousand crores on benami names to SSI units in entire India like this Sakthi Industries & Creations Vijayawada. After discussions it is decided on OTS for 36 months, but requested for 100 months shall be considered in the interest of public justice. Fraud monitoring unit of department of Banking Supervision in RBI is requested to order for appropriate inquiries for proper punishments and compensations in this regards as already viewed the same seriously in the interest of public justice.
Due to sudden raise of interest rates and also illegal NPA declarations of Sakthi Industries in the deceptive administration of said ICICI Bank Ltd as the grave fraud of diversion of agriculture loans more than rupees thousand crores to industries is pointed out in the auditing of RBI unfortunately not at all proposed any punishments in the interest of nation
Actually because of certain graft officials in ICICI Bank rupees more than thousand crores is looted while ignoring the RBI guidelines and also deliberately released on benami names against the Government policies on fraudulent sanctions like credit facilities to Sakthi Industries [ Loan A/C Number : 630605108700 and Sakthi Creations [ Loan A/C Number : 630605107732 ] in Vijayawada just nothing but industrial loans on deviating the policies of agricultural sector loans on intentionally deserted the formers is a grave offence to be viewed very seriously if not considered shall also be presented in the High Court of AP for appropriate directions to CBI and other probing authorities to look into the matter of very serious fraud to seize the entire business of said ICICI Bank in India in the interest of public justice since SSI units like above said Sakthi Industries & Creations are very badly suffered on sudden raise of interest rates and also are going to be cornered on hotplate by throwing the nearly 250 workers into streets at the only mistakes due to corruption & bribery of said ICICI Bank. Concerned police, GPF & labour authorities are also silent on bribes while ignoring the assurances of great Constitution of India.
Hence all the competent officers are liable for prosecution to get back the losses on immediate recoveries properly and to fund back to the deserved formers and also compensate & rehabilitate appropriately the SSI units like Sakthi Industries & Creations as aimed in the policies of RBI & the Governments in India.
With respectful regards
A Ramachandra Reddy
Chief Executive
Copy to Shri D Subba Rao Governor of RBI, Shri C Krishnan Chief Vigilance Officer RBI, Shri S Karuppasamy Chief General Manager in Charge Dept of Banking Supervision RBI, Mumbai, the Regional Director RBI Hyderabad, the Director CBI Government of India, the Country Head ICICI Bank, the Print & Electronic media for appropriate reaction in the interest of nation.
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