NEW DELHI: The Janata Dal leader Vishwanath Pratap Singh asserted that the Government “must order” investigation into the activities of the Bank of Credit and Commerce International (BCCI) in the county.
Addressing a meet-the-press program organized by the Press Club of India the former Prime Minister said there was “something fishy” about the BCCI. He however made clear that he could not recall all the details that might have come to his notice during his tenure earlier as finance minister in the Rajiv Government.
He wondered why the Government should fight shy of holding the inquiry. “If money-laundering has taken place it must be investigated” he said.
Singh replied to a wide range of questions during the one-hour program varying from the BCCI to the realignment of political forces in the country. He declined to be drawn into the controversy about his relations with the senior party leader Ajit Singh. He said it was his “standard practice not to discuss intra-party matters with the Press”.
He disapproved of the Civil Aviation Minister Madhayrao Scindia’s description of Bharatiya Janata Party leaders as “traitors”. He stated that though his party had strong differences” with the BJP he did not think “that it is proper to call anybody traitor like this” He said the tenure of the minority Narasimha Rao Government depended upon its “survival instincts”.
Asked about the activities of the BCCI the Janata Dal leader said that in such a vast ministry as Finance one could not remember all the details. He said “vaguely” remembered there was “something wrong about it”. There was some complaint following which its directors were removed he said.
To a query whether his removal as finance minister was linked with the action taken against the BCCI Singh said “I do not know. There may be many factors. There was a policy to give stimulus to industry. But I did try to curb wrong full activities. There. “Is no wonder” he said if this annoyed some persons.
He was asked why his Government had turned down the demand of the BCCI for opening its branch in Delhi and what he had to say in the light of assertions by his party colleagues in Parliament that they had many facts about the nefarious activities of BCCI.
Singh said it was “very difficult” to recall. He remembers “broadly roughly there was something fishy about it”. He maintained what was the harm is holding the investigation “when all over the world the action is being taken”.
When pointed out that “One of the investigators employed by his Government” Michacl Hershman had threatened to come out with the names he had found during his investigation into BCCI affairs the former prime minister said “I will not comment on Hershman. He should be responsible for his Statement. I do not have access to the basis on which he had made his observation.”
The Janata Dal leader parried all questions about his relations with Ajit Singh. He maintained that he was in favor of “collective functioning”. He however held the view that there would be realignment of forces. Such realignment he said was already taking place with the changing social base of the Congress-I and with other parties acquiring new base.
When asked whether it was: proper for him to rake up the Mandal issue at a time when all parties should collectively resolve economic crisis. Singh said what was involved was “a broader issue of equity and social justice” and a solution to economic crisis also lay in this
Article extracted from this publication >> September 6, 1991
