Take strict action against rich loan defaulters, urge KC Tyagi, Vijay Goel

NEW DELHI: Loan defaulters, who are rich and famous, today came under the scanner as Rajya Sabha members questioned why no action was taken against such people, some of whom even own IPL teams.

"Three lakh farmers committed suicide in the recent past and most of them were people who could not pay bank loans for their tractors and were shamed by the banking authorities for non-repayment of their dues.

"There are big industrial houses who have defaulted on loans to the tune of Rs 53,000 crore. There are 406 rich people who have not paid Rs 70,000 crore worth of loans but no recovery is done from them or notices are pasted on their houses. Why is it that no criminal proceedings are done against them," KC Tyagi (JD-U) said during Zero Hour in Rajya Sabha.

Demanding strict action against such big defaulters, Tyagi said some pro-rich bureaucrats head committees for welfare of poor which was like "cranes heading committees for welfare of fish."

Vijay Goel ( BJP) said some of these ultra-rich loan defaulters "lead lavish life-styles but don't have money to pay to their employees and even own IPL teams."

He demanded that action should be taken to make recoveries from such defaulters.