आज के जमाने में ऐसे कई किस्से हमने सुने है जिसमे बेटा ही कलयुगी हो गया है। ऐसा ही एक किस्सा सामने आया है बोरीवली का। एकलौते बेटे ने अपने ही बाप के नाम पर फर्जीवाड़ा किया और दो अलग अलग बैंक से २.५ करोड़ का लोन बाप के फर्जी हस्ताक्षर करके लिया .अब बेटा ना ही बैंक का इएमआई भर रहा है ना ही बाप का फोन उठा रहा है
दरअसल मामला ऐसा है की ७६ वर्षीय हस्तिमल जैन ने आज से १० साल पहिले बोरीवली के मोक्ष प्लाज़ा में तीन दूकान खरीदी थी इन तीन दुकान में उनका बेटा प्रमोद मांडोत @ प्रमोद जैन व्यापार करता था.लेकिन व्यापार में उसे भारी नुक्सान होने लगा.तब पिता ने अपने बेटे को अपनी तीन दुकान में रेडीमेड गारमेंट का व्यापार करने की इजाजत दी.बेटा बाप की दुकान में कपड़े की दुकान चलाने लगा

लॉक डाउन में तीन महीने तक दूकान भी बंद थी. अपने व्यापार के बारे में प्रमोद अपने पिता को कुछ भी नहीं बताता था। ऐसे में लॉक डाउन के बाद हस्तिमल जैन अपनी दुकान में गए

ओक्टोबर के पहिले हफ्ते में जब वह अपनी दूकान को देखने गए तो जैसे ही ताला खोला उनकी आँख के सामने दूकान खाली थी कचरे का ढेर लगा हुआ था। दूकान से पूरा सामान गायब था और वहाँ बैंक के कुछ कागज़ गिरे हुए थे। जब उन्होंने बैंक के कागज़ देखे तो उनकी आँख फाड़े की फाड़े रह गयी। . बैंक की कई नोटीस थी जिसमे ईएमआई नहीं भरा गया था।जिसकी नोटिस थी
. जब ने बैंक से पूछताछ की तो पता चला की उनके नाम पर दो अलग अलग बेंक से २.५ करोड़ का लोन ३० अगस्त २०१९ को पास हुआ है। .
जब उन्होंने जांच कराई तो पता चला की बेटे ने ही फर्जीवाड़ा करके बैंक से बाप के नाम पर २. ५ करोड़ का लोन लिया है. फर्जी हस्ताक्षर किये गए और अब लोन की भरपाई के लिए emi भी नहीं भर रहा
हस्तिमल को यह जानकर बड़ा दुःख हुआ की उनका खुद का खून ऐसे फ़र्ज़ीवाडा कैसे कर सकता है क्योंकि अगस्त २०१९ में
हस्तिमल जैन २२ अगस्त पर्युशन करने के लिए राजस्थान ट्रैन से निकल गए। ४ सितम्बर तक वह राजस्थान के फालना में थे रहे जैसे ही पर्यूषण ख़तम हुए वह मुंबई लौट आये . जब वह मुंबई में थे ही नहीं तो बैंक ने कैसे लोन पास कर दिया.
बेटे के फ़र्ज़ीवाडे से परेशान होकर हस्तिमल जैन मुंबई पुलिस की इकोनॉमिक ऑफेंस विंग में मामला दर्ज करने के लिए गए लेकिन उन्होंने साफ़ तौर पर कहा की मामला ३ करोड़ के आसपास का है इसलिए उनके अधिकार क्षेत्र में नहीं है जिसके बाद उन्होंने ८ ओक्टोबर को इस मामले में बोरीवली पुलिस में शिकायत भी दर्ज की है। बोरीवली पुलिस ने एनसी लेकर जांच शुरू की है
हस्तिमल जैन ने अब अपने बेटे को घर परिवार से बेदखल कर दिया है और बेटे को कानूनी नोटिस भी भेज दी है
जब बेटा ही कलयुगी निकलेगा तो बेसहारा बाप कहा जाएगा

• The announcements were aimed at countering the fallout from the ongoing nationwide lockdown to contain the spread of the coronavirus pandemic, which has pushed the economy into a standstill, hurt businesses and landed thousands jobless.

• In his first address to the media after the government detailed the fiscal and monetary stimulus worth Rs 20.97 lakh crore, Mr Das said economic is expected to remain in the negative territory in the current financial year, due to the COVID-19 outbreak.

• While the repo rate was reduced to 4 per cent, the reverse repo rate – the interest rate at which the RBI borrows funds from commercial banks – was lowered to 3.35 per cent from 3.75 per cent.

• The committee decided to continue with its “accommodative” stance of policy, which means the central bank is ready to ease monetary policy further to support the financial system.

• Five members of the Monetary Policy Committee (MPC) voted in favour of rate reduction, RBI Governor Shaktikanta Das said through a video address.

• The RBI extended the term loan moratorium and also relaxed the repayment terms (interest payments) to prevent a cash-squeeze for borrowers.

• The RBI Governor said the combination of fiscal, monetary and administrative measures will create conditions that will enable a gradual economic revival going forward.

• Economists say the transmission of lower interest rates by banks to their customers will be watched closely.

• “The RBI flagged risks of a negative growth print this year, while holding back on a point target. They expect disinflationary forces to dominate, suggest they open for further reduction in cuts,” said DBS Bank economist Radhika Rao.

• In March, the RBI had slashed the repo rate by 75 bps to stimulate growth, and the next month, it unexpectedly lowered the key deposit rate – or reverse repo rate – to 3.75 per cent, in a bid to discourage commercial banks from parking idle funds with it and spur lending.

Loans worth over Rs 6.45 lakh crore were sanctioned by PSBs during March 1 – May 15 for 54.96 lakh accounts from MSME, Retail, Agriculture & Corporate sectors; A notable increase compared to the Rs 5.95 lakh crore sanctioned as of May 8, the Finance Ministry said

Public Sector Banks sanctioned over Rs 1.03 lakh crore as emergency credit lines & working capital enhancements in the period March 20 to May 15, which is a substantial increase over the Rs 65,879 crore that had been sanctioned up to May 8.

It may be noted that with the lockdown coming into effect from March 25, state-owned banks had opened an additional line of credit of 10 per cent of the existing fund based on working capital limits, subject to a maximum of Rs 200 crore.

India has been under lockdown from March 25 to check the spread of coronavirus. The lockdown has been extended till May 31 with some relaxations.

Meanwhile In a communication to the States, Union Ministry of Home Affairs has noted that fear of COVID-19 infection and apprehension of loss of livelihood are the main driving factors for the movement of stranded workers towards their homes. In order to mitigate the distress of migrant workers, the communication stresses on a number of measures that may be taken by the State governments, pro-actively in coordination with the Centre.

These include Run more Buses, ensure their Smooth Transition across States and inter-State borders; Create en-route Rest Places with basic amenities for people on foot, till they are guided to bus/rail stations; Dispel rumours, give clarity on train/bus departures.

With the country fighting Covid-19 pandemic and under lockdown, availability of essentials like food and health services to the masses is crucial. While for the consumers it is important that their supplies are maintained; for farmers too, it is imperative that the value chain starting with them is up and running to market their produce even under restrictions.

Taking the initiative further in this context, Mother Dairy, a wholly owned subsidiary of National Dairy Development Board, contributed in stabilizing the dairy supply chain in Vidarbha and Marathwada Region amid Lockdown. Located in Civil Lines area of Nagpur city, Mother Dairy is extending all possible support to farmers and procuring an average milk volume of 2.55 lakh litres per day in Vidarbha and Marathwada region

Following proposals put forward by NITI Aayog with respect to the arbitrations by/against Government Entities were approved:

(i)  Government Entities will take the decision to initiate proceedings for setting aside of the arbitral award, and any appeal(s) thereto, with the opinion of a Law Officer i.e. Attorney-General for India / the Solicitor-General for India / the Additional Solicitor-General for India, in consultation with Department of Legal Affairs.

(ii) Where a Government Entity has challenged an arbitral award, resultant of which the amount of the arbitral award has not been paid, 75% of such award will be paid by the Government Entity to the contractor / concessionaire against a bank guarantee only for the said 75% and not for its interest component. With respect to the interest payable to the Government. Entity, should the subsequent court order require refund of the said 75%, payment of the same will be as per court order.

The above order is applicable to Government Entities i.e. all Public Sector Undertakings of the Central Government, Autonomous Organisations of the Central Government, Special Purpose Vehicles (SPV) where 50% (fifty per cent) or more of the paid-up share capital is held by the Central Government, and all Central Government Departments.

Major Impact:

These approved measures would help in ensuring that the remedies of challenge/appeal are resorted to in a prudent and judicious manner, and in furthering the objective of infusion of liquidity into the construction sector. Given the significant multiplier effect the construction sector has on the economy, these are expected to give a major boost to economic growth. And as the sector that provides one of the largest segments of direct and indirect employment, its revival would also help in significant employment generation.

Over the last few years, an increasing number of infrastructure projects in the construction sector have been / are subject of prolonged legal proceedings. In a substantial number of these projects which go into arbitration, payment of award is not released to the contractor / concessionaire for the award is challenged in court.

Challenge of the award, in most cases, defers the payment of the arbitral award pending the decision in challenge/appeal, which process then takes years to attain finality. This is seen to cause severe liquidity constraints in the construction sector as the large sums of money raised by contractors / concessionaires for execution of projects get blocked – stressing their balance sheets. The foregoing then causes a ripple effect throughout the financial ecosystem – directly impacting the repayment of debt to lenders, leading to increasing Non-Performing Assets (NPAs) in their balance sheets.