The government can't shrug its responsibility off by saying these companies took loan during the UPA regime, the Congress said. Congress demanded CBI probe into the insolvency case of Amtek group of Companies

The Congress on Sunday accused the government of sheltering the promoters of the companies declaring insolvency through the Insolvency and Bankruptcy Board of India. "The Amtek group of companies took a loan of ₹21,000 crore from Indian banks. And then it was put on sale for ₹4,100 crore. Where did the money of the banks go? This way our banks are being bankrupt, which is our money. There have been reports that Amtek conducted preferential transactions, transactions defrauding creditors. But the government is not taking any action against the promoters," Congress leader Sanjay Nirupam said, demanding a CBI probe.

Citing the examples of Alok Industries, Videocon, Nirupam said the government should ask these shrewd businessmen how their operations went kaput, while they started their companies from scratch. "Actually, these companies have diverted the money and now with the companies sold, the promoters are roaming around scot-free," the Congress leader said.

Congress leader Pawan Khera said in the name of resolving the insolvency cases of the companies, institutional corruption is going on. "Nirmala Sitharaman ji always says these companies took loans during the time of the UPA. True, but taking a loan is not a crime. Diverting those funds is and that is happening under the Modi government," Sanjay Nirupam said.

The government should issue a white paper on these insolvency cases, the Congress said adding that in the last 5 years, 4,946 insolvency cases came up in which 457 cases got resolved.