Who is planting news on ICICI Banker K V Kamath to be the next Finance Minister?

After floating a trial balloon in Jan of Kamath becoming the FM, some vested interests are again cheering for him. Could it be for a different reason?

After floating a trial balloon in Jan of Kamath becoming the FM, some vested interests are again cheering for him. Could it be for a different reason?
After floating a trial balloon in Jan of Kamath becoming the FM, some vested interests are again cheering for him. Could it be for a different reason?

Just a few months back, a buzz was created that K V Kamath is going to be the next Finance Minister[1]. 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.

Videocon connection

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[2]. 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[3]. 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[4]. 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.

In summary…

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.

References:

[1] Why Anil Ambani controlled news agency IANS floated news of K V Kamath as new Finance MinisterJan 19, 2020, PGurus.com

[2] ICICI Bank head Chanda Kochhar and husband on the radar of probe agencies for doubtful loans to debt-ridden Vodafone Group? Mar 25, 2018, PGurus.com

[3] SEBI Inaction Part 4 – Who was behind VCPL? Nov 3, 2017, PGurus.com

[4] At last CBI catches up with Prannoy Roy and Radhika Roy for ICICI Bank fraud. ED to follow soonJun 5, 2017, PGurus.com

12 COMMENTS

  1. Pls do not post unverified news.You seem to be a regular reader of Scroll.in. Dr Harshvardhan was never a UPA mole.

  2. PGurus should suggest a good FM as Nirmala seems a clear misfit in her role.If we had a qualified and competent FM,such talks would not have come.She is just rolling out decadent schemes of the finance ministry( saddled with Chidambaram age people) and with no innovation or foresight.Her contribution is nil or negative.

  3. Modi should replace Nirmala Sitharaman with Dr. Subramanian Swamy. He is the most qualified person for Finance minister’s post.

    • Dr. Subramanian Swamy’s prescriptions look good as long as he in not having the responsibility of implementing them.

  4. Still there are many ‘UPA Moles’ in BJP as well as the Center.

    Daku Harshvardhan – who is an agent of the Bill Gates Mafia is one such.

    This raskal Harshvardhan has been given a plum Who Post in return for exhorting the Indian Govt to allow the Adivasis of India to be used as Guinea Pigs to test the New vaccines under development by Mafia Chief Bill Gates

  5. Every Indian citizen knows how Chidambaram was sincere to his country by looting Indian economy. Since long Kamath was involved in architect in various dubious loans by ICICI bank. It is also well knows he was close to Sonia Gandhi Congress, Chidambaram and many other Congress politicians. It is totally absurd even dreaming Kamath as FM. Modi will never allow such tainted person as the country’s FM which will affect his position and reputation. There are several well known economislts and tainted Kamath should never allowed to such high position. It will be disgrace to country.

  6. P GuRus are the cleanest gangajai cleanened website ! His master’s voice of the other gangajal cleaned organisation. They better stop throwing mud left and right to serve the commands of their leash holder.

    • Such intemperate comments do not add any value. Got facts to rebut? Present them here in a lucid manner. Otherwise shut up.

  7. I have stopped watching news channels, I rarely visit news websites, but its PGurus that I visit regularly, primarily because of the bold, fearless and inside scoops you publish. Many of your news are really eye opener and exclusive. I can’t explain in words the importance of this website, which is further amplified when you consider there are hundreds of Indian new sites on the web. Truly amazing reporting!!!

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