Shiv Sena union demands blocking LIC IPO
Raps IDBI Bank on contradictory statements; Asks FM to hold public issue until IDBI Bank Ltd's loan default issue is completely rectified
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Pune (Maharashtra): Making a plea for ordinary policy holders, the Shiv Sena's Bhartiya Kamgar Sena (BKS) on Thursday called upon Union Finance Minister Nirmala Sitharaman 'not to move ahead with the LIC IPO' till the IDBI Bank Ltd's recently exposed issues are completely rectified.
In a letter to Sitharaman, the BKS General Secretary Dr Raghunath Kuchik accorded a Minister of State rank has drawn her attention to the IDBI blunder about one of its alleged wilful defaulters, a diamantaire group, Sanghavi Exports International Pvt Ltd.
He said that in a span of 72 hours, the IDBI Bank Ltd came out with three different amounts of alleged wilful default of loans by the diamantaire group which has created confusion for the Reserve Bank of India, the IDBI Bank's account holders and also the LIC whose IPO is soon to come.
