Peoples Democracy newsletter

Peoples Democracy newsletter

The Nirav Modi Scandal

NIRAV Modi, and his uncle Mehul Choksi, are the latest additions to the list of the so-called “entrepreneurs of new India” who have looted public money and decamped with the loot. The Punjab National Bank, the second largest bank in the country, kept giving them loans without any collateral (which is basically what happened through the complicated procedure of the so-called “Letters of Undertaking”); and one fine day Nirav Modi simply left the country with his immediate family, to be followed by his uncle a few days later.

Yatra for Communal Polarisation

CPI(M) Polit Bureau has issued the following statement on February 14

THE Polit Bureau of the CPI(M) expresses its deep concern at the grave implications of the “Ram Raj Rath Yatra” flagged off yesterday at Ayodhya in Uttar Pradesh.  This rally was flagged off by the RSS-affiliated VHP general secretary in the presence of Faizabad BJP MP, Ayodhya’s BJP mayor and other BJP leaders.

Fraud and Crony Capitalism under the Modi regime

THE Punjab National Bank scam is the most brazen and shocking case of defrauding in the history of Indian banking. Nirav Modi, reputed to be the 85th richest Indian and his uncle, Mehul Choksi are reported to have embezzled Rs 11,400 crores through the repeated issue of fake letters of undertaking (LOUs) by colluding bank officials.

That the fraud has been going on since 2011 and peaked in the year 2017 indicates the scale and ease with which such fraud was perpetrated. Does this what “ease of doing business” amounts to in Modi’s New India?

DUJ Condemns Sacking of DailyO Today Editor

THE Delhi Union of Journalists and its Gender Council, in a statement issued on February 16, has condemned the arbitrary sacking of editor Angshukanta Chakraborty by the India Today group for a personal tweet opposing hate news and fake news and demanding action against its purveyors. Her February 4 tweet said: “Promoters turning a blind eye to hate-mongering, fake news spreading anchors, editors, reporters and writers, or hiring them in the first place, must be tried in court as hate speech enablers-profiteers. Must be boycotted socially by secular politicians & industrialists”.


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