Govt rejects JPC probe into GTB

The government on Wednesday rejected in the Lok Sabha the demand for setting up a Joint Parliamentary Committee (JPC) to probe the collapse ...

The government on Wednesday rejected in the Lok Sabha the demand for setting up a Joint Parliamentary Committee (JPC) to probe the collapse of Global Trust Bank (GTB) saying a criminal case would be filed before this month-end in the matter and no one involved would be spared.

Answering to Left and BJP charges in Lok Sabha today, Finance Minister P. Chidambaram said : ‘‘Any director, manager or employee (who is responsible) will be punished, there is no amnesty. The investigation is complete. A criminal case will be filed before the month is over.’’

Rejecting the demand for setting up of a JPC to go into the matter, the Finance Minister said such a demand would have been justified if the government had sat idle and had not taken any action. ‘‘It was in fact this (UPA) government which took action against GTB within days of assuming office,’’Chidambaram said.

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Ajoi Chakravarty, Gurudas Dasgupta, C.K. Chandrappan (all CPI) and Basudeb Acharya (CPI-M), participated in a debate on the issue of the collapse of GTB despite warnings which went unheeded by RBI. Gurudas Dasgupta charged RBI of ‘‘acting in collusion’’ with the top brass of GTB, especially Ramesh Gelli helping him to drop his investment in the bank just before the collapse.

Left parties wanted to know whether any action was being taken against Gelli and demanded a JPC probe into the collapse.

Lok Sabha okays Customs bill

		• New Delhi: Lok Sabha on Wednesday passed a Bill to repeal certain customs and central excise enactments which have become irrelevant in present circumstances. The customs and central excise laws (repeal) Bill, 2004, tabled by Chidambaram, was passed by voice vote. The FM also introduced the banking regulation (amendment) and miscellaneous provisions Bill, 2004, to amend the Banking Regulation Act and the Deposit Insurance and Credit Guarantee Corporation Act. — ENS

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