Increase in population is creating dwelling necessitation by leaps and bounds. Somewhere along the line the vast requirements of real estate are being met by equally fervent developers and construction houses but this booming real estate market has given rise to unethical modus operandi. Fake companies’ masquerading as authentically sound companies is the first step towards the skilful deception. Attractive presentation to the banks for sanction of loans is the second step and after procuring it declaration of themselves as NPA (non performing assets) to evade outstanding payments is the final nail in the coffin. A name in the scam list being added is the name of Mr. Ashok Bansal.
Yes, we are talking about the frauds that are high scale forgeries conducted by the sophisticated and educated class assisted by bureaucrats and powerful people on high designations which include personnel from banks, government officials or press media.
These scams are no unplanned, loosely framed crimes that are carried out by novices. The people involved in them carry out the entire scam methodically. Each scenario is planned backed with sound paper work and legal formalities. After giving a setback of thousands of crores to the country these scammers live lives without being afflicted with any criminal charges or penance. While the world hears about their failures and bankruptcy, they are found living in luxury.
Our PM is consistently coming up with policies or ways to curb corruption but how can corruption be controlled when the scammers or their abettors themselves belong to the ones that are given responsibility to control it? Over a period of years India has suffered major setbacks in the form of corruption that is hollowing out the roots of the society.
Mr. Ashok Bansal, belonging to the Delhi/ NCR region, the director of Nextra Developers and many subsidiary companies that are created by him, is the new name that has recently emerged in the business world of scammers. Oh yes, he supported by his family members who are his copartners is a slick manipulator who has all high bank officials and government people in his pocket and maneuvering them accordingly, he treats them as mere putties of his hands.
With 144 pending cases against him in the High Court and various complaints regarding bouncing of cheques and negotiable instruments, he seems unperturbed living a hassle free life with his empire becoming even larger.
The ironic fact being that Union Bank against whom he had defaulted payment of Rs. 100crores in December 2015 by pronouncing his concern as NPA, sanctioned him a loan again in the same month. A project for which he procured loans from four banks simultaneously and has not been able to repay the loan is another feather in his cap of scams.
Foreign banks are again coming handy as all his dealings are being conducted from them and Indian banks are watching this man skillfully get away yet not doing anything to extract the defaulted money.
There is no ample proof to the number of benaami properties that are his sideline investments and added to the assets of his multi magnanimous empire but yes with such non stringent laws and slack action of the authorities against the scammers it leaves little to imagination how these scammers are roaming scot free. No wonder companies like Prag Bosimi Synthetics with outstanding amount of Rs. 3.558crores to IDBI Bank, Cranes Software International owing Rs. 3.580crores to Bank of India are still operational companies. There are many companies that are functional in spite of committing forgeries and Mr. Ashok Bansal seems to be taking after them.