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Baijayant Panda’s Wish To Be Parliamentary Panel’s Finance Chief Now Exposed: BJD


25 April 2019

Debashish Maharana


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Bhubaneswar: Biju Janata Dal (BJD) today claimed that the then MP and now BJP’s Kendrapada MP candidate Baijayant Panda’s long cherished wish to become the Chairman of the Parliamentary Standing Committee on Finance has been exposed now.

Convening a joint press conference here today, BJD spokespersons Sulata Deo, Lenin Mohanty and Sasmit Patra came down heavily on Panda.

BJD revealed, “In 2014, then-MP Baijayant Panda and now the BJP’s candidate for Kendrapada Lok Sabha was desperately wanting to become Chairman of the Parliamentary Standing Committee on Finance. Why he wanted to become the Chairman of that Committee is exposed now.”

Elucidating they said, “In May, 2014 when the Odisha Government was formed after elections, in a Board of Directors meeting of the mining company IMFA held on 20th May 2014, Baijayant Panda informs his company as Vice Chairman that the IMFA company has succeeded in getting a loan of 110 crores from SREI Infrastructure Finance Limited for its subsidiary Utkal Coal Limited.”

“This proves that Baijayant Panda played an active role in getting loans from banks and financial institutions for his businesses. All these years he mentioned before media that he has no role in the commercial operations of the mining company IMFA. But the certified true copy of the resolutions passed at the meeting of the Board of Directors of the Company held on 20th May, 2014 (provided to media) states that he was the person who was getting loans worth hundreds of crores for his company IMFA,” BJD claimed.

The party further claimed, “The Serial No. 2 of the same certified copy of the resolution states that he was authorized to sign and execute all documentations for getting the loan of 110 crores. This exposes his lie that he had no role in the commercial operations of the company. This proves that Baijayant Panda was actively getting loans worth hundreds of crores for his mining company IMFA and its subsidiaries. Further, a certified true copy of the resolution passed at the Finance Committee meeting of Directors of IMFA company on 4th June, 2014 further exposes Baijayant Panda. Here he is been authorized to undertake all steps to avail a Loan from ICICI Bank for Rs 430 crores.”

“This was the time when the Government in Delhi was formed and processes were on the way for the nomination of Chairman for Standing Committee of Finance in Parliament and the reason that Baijayant Panda wanted to become Chairman of the Standing Committee of Finance is now exposed. His only interest was to ensure that his mining company IMFA can get hundreds of crores of loans from banks and financial institutions and being the Chairman of the Standing Committee on Finance in Parliament, he can influence banks and further his business and commercial interests,” argued BJD.

It also accused, “This shows that Baijayant Panda is not truly a politician who thinks for the people of Odisha. He is a businessman who wants to further his business and commercial interests for his mining company IMFA. Over the last many years he has been stating that he has no role in his IMFA company and that it is run by his family, but these documents show that in fact he is running the company actively and getting hundreds of crores of loans for his company and his business.”

“He is not a politician. He is a businessman who is using politics as a platform to further his business interests. His sole objective is to take loans from banks and then not repay it as he did not repay the Rs 2300 crores that he had taken from banks earlier,” the BJD further accused.

On the contrary, no counter reactions of Baijayant Panda or his office or BJP were available with OMMCOM NEWS till the filing of this news.

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Sasmit Patra, Spokesperson, BJD