‘UTI scam led to NDA govt’s fall’ | india | Hindustan Times
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‘UTI scam led to NDA govt’s fall’

NDA acting convenor Sharad Yadav demanded the dismissal of Company Affairs Minister Prem Chand Gupta claiming that the government was sitting quietly over other complaints of corporate fraud, reports Vikas Pathak.

india Updated: Jan 13, 2009 01:12 IST
Vikas Pathak

NDA acting convenor Sharad Yadav demanded the dismissal of Company Affairs Minister Prem Chand Gupta claiming that the government was sitting quietly over other complaints of corporate fraud.

At the same time, he obliquely admitted that not taking strict action at the time of the UTI scam was one of the reasons for the NDA’s defeat in 2004. This statement was made in the context of a question on the UTI scam and the silence of the JD(U) — an ally — at that time. “If we committed the mistake of staying silent at that time, we ended up losing the election.”

Yadav produced letters purportedly sent by PMK MP M. Ramadoss — whose party is a UPA ally — to Gupta alleging that a public limited company had diverted Rs 500 crore raised from the market to a private limited company to acquire two sick firms. The MD of the public limited company also owns the private limited company, he said.

“An MP who is part of the ruling alliance wrote letters to the minister on July 19, 2008, April 21, 2008, and May 18, 2007. Yet no probe is being done.”