<b>XIII LOK SABHA DEBATES, <i> Session II (Winter Session) </i> </b>
XIII LOK SABHA DEBATES, Session II (Winter Session) Monday, December 13, 1999/Agrahayana 22, 1921 (Saka )

Title: Request the Government of India to take immediate action against the Banks and Non-banking financial companies in India who had cheated the investors.

DR. (SHRIMATI) C. SUGUNA KUMARI (PEDDAPALLI): I thank you for giving me this opportunity to speak. I draw your attention and the attention of this august House to the innumerable bank and NBFCs in India in general and in Andhra Pradesh in particular involving Rs.10,000 crore loss to the innocent investors. Some of which are:

1. Paradesi scam involving Shri Rupchand Paradesi who had cheated investors to the tune of Rs.200 crore.

2. The Aneja Consultancy has duped the investors to the tune of Rs.1000 crore.

3. V. Jaya Bharathi Laxmi, owner of a unregistered chit fund company in Vengalrao Nagar, Hyderabad.

4. Pancha Janya Finance in Machiryal of Adilabad District in Andhra Pradesh, which is in my constituency.

5. M/s Shakti Sai Agros and Forests India Limited, 8 Incline Colony, Godavarikhani, Karimnagar District, is also in my constituency.

This is the tip of an iceberg and if explored all sharks, which have swallowed innocent poor people will be hooked and booked. Through you, Sir, I request the Government of India and the concerned hon. Minister to take immediate action in this regard.