This story is from July 5, 2019

Debts tribunal summons MLA son of Gorakhpur 'bahubali'

Debt recovery tribunal (DRT) in Delhi has summoned BSP MLA Vinay Shankar Tiwari on a complaint by a consortium of banks, citing non-performing assets (NPAs) alleging fraud by Tiwari's firm Gangotri Enterprises Ltd to the tune of Rs 1,129 crore.
Debts tribunal summons MLA son of Gorakhpur 'bahubali'
Picture used for representational purpose only
LUCKNOW: Debt recovery tribunal (DRT) in Delhi has summoned BSP MLA Vinay Shankar Tiwari on a complaint by a consortium of banks, citing non-performing assets (NPAs) alleging fraud by Tiwari's firm Gangotri Enterprises Ltd to the tune of Rs 1,129 crore.
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The Chillupar MLA is the son of veteran Gorakhpur strongman Hari Shankar Tiwari.
A consortium of banks led by Bank of India and including Canara Bank, Oriental Bank of Commerce, Corporation Bank, IDBI, Axis Bank and Central Bank of India had approached DRT for the recovery of loans.

Contacted by TOI on phone, Vinay Shankar refused comment on the summons or the bank loan recovery process. The DRT on July 1 issued a public notice against Tiwari and 33 others including his father, brother Bhishm Shankar Tiwari, wife Reeta Tiwari, son Kandarp, daughter Vartika and several management officials and director of Gangotri and its off-shoot companies - Royal Empire Marketing and Kandarp Hotels Pvt Ltd.

"For the satisfaction of this court, the DRT feels that it is not appropriate to send this notice to you in a normal way, hence by way of this advertisement notice, we are informing that you have to be present on July 6, 2019, at 10.30 am," the DRT notice, published in the state's vernacular dailies, said.
The banks have told DRT that the borrowing company Gangotri and its officials, with dishonest intention of causing wrongful loss and "wrongful gains to themselves" have fraudulently committed acts of misappropriation, criminal breach of trust by diverting bank's funds for purposes other than what loans were granted for. The banks also told DRT the declaration of fraud was reported to RBI and Central Repository of Information on Large Credits.
The banks have also approached RBI to request a 'look out circular' (LOC) against company's director, guarantors and promoters, saying it is necessary "to prevent any possibility of economic offender leaving the country." Gangotri was formed in 1991. Vinay and Reeta are the second-largest shareholders in Gangotri.
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About the Author
Rohan Dua

Rohan Dua is an Assistant Editor with Times of India. As an itinerant reporter, he has walked a marathon from rustic farms to idyllic terrains across Punjab, Haryana and Himachal Pradesh to report extensively on the filial politics, village triumphs and palace intrigues. He likes to sneak into, snoop and sniff out offices for investigative scoops, some of which led to breakthrough probes in the Railgate, Applegate, AW chopper scam, IPL fixing and drug scam. His stories nailed Pakistan's involvement with damning evidence in two Punjab terror attacks at Pathankot and Gurdaspur.

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