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Supreme Court has agreed to hear the petition for deportation of the defaulter Nirav Modi which was filed by Advocate Vineet Danda. The petition is against Modi-PNB scam of Rs.11,400 Crores, which is the second petition against the scam. The first one was filed by Advocate Manohar Lal Khattar seeking a SIT to see the fraud.
The bench of Justice Dipak Misra will hear the petition which is also seeking an action against the top brass of Punjab National bank as well as Reserve Bank of India. The petitioner also challenged the efficiency of Core Banking System (CBS) which seems to cover every single bank transactions as per the name of the system. It added that CBS gives scope for entrance of human error due to which there is miscalculation in the interest of banks.The petition also states that in the case of non-returning of the loan it affects the economy of the country. Mostly these huge loans are given by the recommendations of ministers of the states but then also most of them are not returned on time or are not even returned.The petition is asking for formation of a law to recover this loan in a stipulated time and the person who is granting these types of loans must be held liable in case of non-payment.
The petition will be heard on February 23,2018.
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