There is huge nexus between Bank officials and land mafia
Ref: PIO asks RTI applicant to pay a further fee of Rs. 1.34 crore
Comment: Thanks for listening. Hope foundation does some thing concrete also. There is huge nexus between Bank officials (stress asset management branch) and land mafia/builders/property dealers specially in metropolis.Small entrepreneurs take loan and mortgage their personal property. In case, they fail to pay the bank in stipulated time, action is taken against them under SARFESI ACT. In preplanned move, bank officials in connivance with middle man and mafia,tend to dissuade the potential buyers of sick unit. Instead, kickbacks are taken and auctioning is planned. Repeated auctions are done till pre agreement value is reached for auctioning. Thus mafia, middleman are able to buy land at very cheap rates after giving kickbacks to bank officials of SAMG branches of Bank. So, all the losses go to Bank and hapless customers who have taken loan. This results in bad loans
and loss to economy. Land/property mafia thus becomes richer and richer and few bank officials also earn. Please look into the matter on urgent basis.
Dr Sujata Mittal