Just a few months back, a buzz was created that K V Kamath is going to be the next Finance Minister. The same rumours are back with Delhi and Mumbai buzzing on ICICI Banks’ former Chairman K V Kamath becoming India’s Finance Minister. Kamath is currently facing a probe by the Central Bureau of Investigation (CBI) in two bank loan fraud cases. The first one involves giving a loan to the tainted NDTV promoter Prannoy Roy, who took the loan in the name of a shell company and siphoned around Rs.40 crores to buy a palatial bungalow in Cape Town, South Africa. The second case is much bigger and the role of Kamath-headed Committee’s connivance in the then ICICI Bank CEO Chanda Kochhar-related controversial loans.
The CBI and the Enforcement Directorate (ED) could not question Kamath in these two cases as he is stationed in Beijing from 2015 as the head of a not-yet-started-working Bank known as National Development Bank. This Bank headquartered in Beijing is part of BRICS (Brazil, Russia, India, China, and South Africa) countries consortium. Kamath landed as India’s nominee in Beijing and now returning as his five-year tenure is over. So Kamath might be fearing CBI and ED sleuths might call him for interrogation and confront him with his protégé, the accused Chanda Kochhar.
Chanda Kochhar is in the soup for giving huge loans to Videocon and later Videocon paying kickbacks to her husband Deepak Kochhar. This huge banking scandal was first reported by PGurus while all media organisations were keeping a criminal silence because ICICI Bank is a big advertiser in media. It is well known that during interrogations, Chanda Kochhar has confessed to agencies that she was acting on the ‘advice’ of her mentor Kamath, who ruled the roost in the Bank.
Dubious loan to NDTV
Kamath gave the dubious loan to NDTV’s Prannoy Roy during Congress regime when the most corrupt P Chidambaram was the Finance Minister. Kamath is a crucial link in these two cases and CBI and ED could not question him as he was parked diplomatically in Beijing. That begs the question – is this news planting of chances of becoming a Finance Minister a message to the CBI and ED officers by Kamath and his lobby?
Kamath a crony of the Ambanis
Kamath is a crony of the Ambani family from Dhirubhai days. A very senior Auditor told PGurus that in the mid-80s, Kamath as the Chief Manager gave substantial amounts of loans to Dhirubhai Ambani. Kamath was the mutually agreed Arbitrator in the Mukesh and Anil Ambani division of assets. So does this sustained news campaign mean that the Ambani family wishes to see Kamath as the Finance Minister of India?
NDTV repaid in just 8 months!
NDTV repaid ICICI Bank’s loans in just eight months by illegally getting waivers of more than Rs.45 crores by getting money from Mukesh Ambani-linked firms. Many say these complicated issues are delaying the CBI to file the charge sheet. A First Information Report (FIR) was registered and the CBI conducted raids at Prannoy Roy’s home in June 2017. CBI and ED officials say Kamath has to be questioned to finish the probe. The same is the issue in Chanda Kochhar loan mela and husband getting part of the loan cases. Documents clearly show that all these heavy loans given by Chanda Kochhar were approved by the Kamath-chaired high-power committee. Chanda Kochhar already confessed to the role of Kamath in these dubious loans.
All these dubious high-value loans were allotted during Chidambaram’s tenure in Finance Ministry. Kamath’s closeness with Chidambaram and Sonia Gandhi is known to all. So who wanted such a person in Narendra Modi’s Cabinet as Finance Minister? Given the above conditions, this is a real Billion Dollar Question.
 Why Anil Ambani controlled news agency IANS floated news of K V Kamath as new Finance Minister – Jan 19, 2020, PGurus.com
 At last CBI catches up with Prannoy Roy and Radhika Roy for ICICI Bank fraud. ED to follow soon – Jun 5, 2017, PGurus.com
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