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In Letter to UP Govt, Union Minister Flags Sugar Mills Owner as ‘Another Nirav Modi in the Making’

In the letter, Singh, who is MP from Baghpat, said he had also alerted former chief minister Akhilesh Yadav to the issue and submitted a detailed report. He has alleged that the reason why farmers have not been paid is not because the mills are running losses, but because the money is being diverted to “other companies”.

News18.com

Updated:December 4, 2018, 11:19 AM IST
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In Letter to UP Govt, Union Minister Flags Sugar Mills Owner as ‘Another Nirav Modi in the Making’
File image of Satyapal Singh.
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New Delhi: An Uttar Pradesh-based industrialist has reportedly been flagged as “another Nirav Modi in the making” by Union Minister of State for HRD Satya Pal Singh in a letter to UP MoS for sugarcane development Suresh Rana.

According to a report in Times of India, Singh’s letter warns that industrialist Umesh Modi, who owns two sugar mills, has more than Rs 450 crore dues pending towards farmers.

A copy of the letter dated December 2 has also been marked to UP Chief Minister Yogi Adityanath, the report said.

“There is Rs 312 crore pending on Malakpur sugar mill and Rs 150 crore pending on Modi sugar mill – both of them are owned by Umesh Modi. In the last balance sheet of 2012-13, which was submitted by Malakpur sugar mill to the Registrar of Companies, it was found that instead of clearing farmers’ dues, it had diverted Rs 231.76 crore to other companies of its group, like Modi Energy, Modi Securities and others,” the letter reportedly said.

In the letter, Singh, who is MP from Baghpat, said he had also alerted former chief minister Akhilesh Yadav to the issue and submitted a detailed report. He has alleged that the reason why farmers have not been paid is not because the mills are running losses, but because the money is being diverted to “other companies”.

“I am afraid that Umesh Modi – just like Nirav Modi – will flee from the country after usurping money of the poor farmers,” TOI quoted the letter as saying.

It also quoted, Ved Pal Malik, vice-president of Modi sugar mill, as saying that the farmers’ dues would be cleared soon.
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