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Probe sought into waiver of loans to IMFA

CUTTACK: The All Orissa Intellectual Forum in a memorandum addressed to to the Prime Minister demanded a CVC or CBI enquiry into waiver of Rs. 2,300 crores loan by some nationalised banks to Indian Metal and Ferro Alloys (IMFA) company. Forum president B P Patnaik along with several members handed over the memorandum to the District Collector on Tuesday. The memorandum said the amount of loan waived to the company has been done at the behest of political considerations as the company is headed by BJD Rajya Sabha member Baijayant Panda’s father. "Since the matter is very sensitive and there is apprehension that some influential persons could be behind it, a high-level enquiry should be ordered into it either by Central Vigilance Commission or by the Central Bureau of Investigation," the memorandum urged.

At least 10 nationalised banks have waived their loans amounting to Rs 2300 crore to IMFA. A PIL to this effect is also pending in the Orissa High Court, in which the petitioner has urged the court to order CBI probe.

All the concerned banks and the company have been issued notices by the HC to file counters and the case is likely to come up for further hearing next month.

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