Why penalise innocent Bankers alone for Political Fraud?

The Times of India dated 23 August,2012 carries a news on Front page" BANKS ,CITY BUILDER IN MEGA SCAM? followed on page 7," Firm failed to carry out the projects in UAE,Europe" involving Zoom Developers -a major Construction Company and Real Estate Developers, where the Consortium headed by Punjab National Bank has provided Bank Guarantees to the tune of around 2,650 Crores.

The Company had entered into arrangement with Several Low Income Housing Societies of MHADA Colony, Vikhroli, a fast developing suburb in the Eastern Mumbai, under SRA Projects proposal and as Temporary alternate arrangement the Company was supposed to provide temporary Residential accommodation to the Members of the Housing Societies who have handed over their Society Building to the Company for demolition and Redevelopment till they complete the Redeveloped Complex where the Members will be eligible to get an increased area of accomodation, while the Developers enjoying the benefit of sale of extra FSIs on the balance FSI available for sale to other public.

While the Company got into the trouble where the MAHADA Authoities held up the proposals due to Political wrangles for no fault of the Company, and the people who have handed over the Buildings to the Company for Redevelopment are rendered homeless as their Society Buildings have already been demolished and the construction work has been Stalled by the BMC/MHADA Authorities and .Adding fuel to this the residents have also not so far received any alternate accmmodatin and rent as per the arrangement.

Around mid 2008 just before the General Election,there was a Raid on the premises of Zoom Developers making the Cash rich Company go Bankrupt abruptly.

The authorities never bothered about loss of employent to several employees and depriving thousands of their legitamate housing accommodation and rendering them homeless for no fault of theirs.

The Company appears to have been a victim of Politcal Fraud and the Authorities who are more loyal to the Netas than the Tax Payers , have killed a Flourishing Company for their own benefit.

making the Company fail ithe Overseas Projects for no fault of theirs.

While the Media is announcing the Lapses of the Company, the Media has also a moral obligation to find out where the money has gone and expose those responsible for vanishing of the funds of several thousands crores, because if the Overseas Principals decide to cash the Bank Guaratnee, it is not only affecting our Bankers financially but also our Nations Image.