Even after the sanction of Rs 20,000 crore to GSPC, no oil or gas has been extracted, Mr Ramesh claimed
Citing a Reserve Bank of India (RBI) notification, senior Congress leader Jairam Ramesh on Monday said that the State Bank of India should declare Gujarat State Petroleum Corporation (GSPC) as bankrupt by 5 pm.
The Congress leader said, On February 12, 2018, RBI issued a circular stating any company that owes more than Rs 20,000 crore to banks, should be declared bankrupt within 180 days.
“GSPC’s highest debt is from SBI. According to RBI’s notification, SBI should declare GSPC as bankrupt by 5 pm today (Monday),” said Mr Ramesh.
During Prime Minister Narendra Modi’s term as Gujarat Chief Minister, the GSPC was cited as one…
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