Frost International Ltd scam is an outcome of BJP's actions: Cong

The Congress party has accused the BJP-led government of helping fraudsters in escaping the country. It made this accusation in connection with the delay in proceedings of the Frost International Ltd Scam.

New Delhi:In the wake of Frost International Ltd scam, Congress party, on Wednesday, slammed the Modi government for 'allowing' corporates to siphon off money and allowing them to 'escape' the country by not taking timely actions.

Recently, the Central Bureau of Investigation (CBI) carried out searches at 13 locations including the premises of current and former directors of Frost International which has been booked by the agency for allegedly cheating a consortium of 14 banks for over Rs 3,592 crores.

While addressing a press conference, Congress spokesperson Jaiveer Shergill said, "It is under BJP rule that all other industries are sinking while the industry of 'loot and scoot' continues to flourish. It is evident the Bharatiya Janata Party either becomes a 'facilitator' or a 'mute-spectator' whenever fraudsters 'fleece and fly' to foreign shores."

Shergill also alleged that it was the government who prevented the lodging of complaint in the scam.

He said: "When the consortium of lending banks had authorized registration of complaint on June 15, 2019, why did it take more than seven months to register a complaint? Was someone in the BJP government preventing the registration of complaint."

The party also questioned the delay in the Lookout notice.

Shergill asserted that "Despite the issuance of LOC on January 18, 2019, why and on whose directions did the investigating agencies not register any case till January 19, 2020, for an entire year against the suspected offenders who remain untraceable till date."

Congress also attacked the government by saying that the rising NPAs and loan write-offs are a 'gift' of BJP to the Indian economy. The party alleged that the total bank fraud during BJP's tenure has amounted to over Rs 2.7 lakh crores.

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