On December 26 CBI arrested Videocon founder Venugopal Doot in loan fraud case. If we recollect Videocon was one of the famous brands in India in yesteryears and launched various home appliances like washing machine, refrigerator, television. Today we hear the news of fraud in loans sanctioned to them. Former MD and CEO Chanda Kochar states that she had no knowledge of pecuniary transactions between him and her husband Deepak Kochar who are also taken into custody. Common man takes housing loan and vehicle loan and if instalments are not paid then they get notice from banks and earlier even vehicle was seized from owner and banks took custody of it. If a farmer fails to repay loan against tractor the same was seized. Today we have scam of Rs 3,250 crores as credit facility and public money is misappropriated by businessman and the case is not taken seriously. The assets should have been attached and there should have been enquiry with no political pressure on CBI. Government should take stringent action on misuse of public money and exchequer so that public money is not misappropriated for personal gain.
