Allegations of India's Largest Scam: NCLT Under Fire

Samajwadi Party's Ram Gopal Yadav claims the NCLT is India's largest scam, incurring bank losses while benefitting a select few. He urges increased funding in vital sectors, criticizes budget allocations, and warns of economic risks, including agricultural, infrastructural, and bank health concerns.

Samajwadi Party member Ram Gopal Yadav has stirred controversy by labeling the National Company Law Tribunal (NCLT) as the largest scam in India's history, accusing it of inflicting significant losses on banks while favoring select individuals.

Yadav implores Finance Minister Nirmala Sitharaman to investigate and reassess the NCLT audit, suggesting a series of questionable asset transactions that result in significant financial losses for banks. His detailed allegations were presented during a general discussion on the Union Budget 2025-26 in the Rajya Sabha.

In his critique of the Union Budget, Yadav points to reductions in critical sectors such as education, agriculture, and health, arguing that diminished financial allocations hinder India's development. He also voices concerns over decreased repo rates impacting bank health and calls for urgent reforms.

(With inputs from agencies.)