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/ India News / 2007 / July 2007 / July 2, 2007 SC to take up petition on cancellation of Pratibha Patils candidature tomorrow |
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The Supreme Court will take up the petition seeking cancellation of United Progressive Alliance-Left presidential candidate Pratibha Patils nomination papers tomorrow.
New Delhi, July 2 : The Supreme Court will take up the petition seeking cancellation of United Progressive Alliance-Left presidential candidate Pratibha Patil's nomination papers tomorrow.
Justice Tarun Chatterjee and Justice P K Balasubramanyan would hear the petition filed by advocate Manohar Lal Sharma.
Sharma has alleged Patil of defaulting on a loan of Rs.17.5 crore granted by the Bombay Pune Cooperative Bank.
On Sunday, Patil described the allegations as "false and malicious".
Last week, former Union Minister Arun Shourie raised questions about the closure of Patil's co-operative bank in Maharashtra, how her relatives had defaulted on big loans and why she had shielded her brother in a murder case.
Shourie had claimed that the Reserve Bank of India (RBI) had shut down her bank -- the Pratibha Mahila Sahakari Bank -- because of poor loan recovery and an abnormal increase in non-performing assets.
Patil had set up the bank in her own name in 1973. With many members of her family as directors, she was the founder-chairperson till its closure in 2003, Shourie's booklet said.
In February 2003, P B Mathur, RBI's executive director, said the inspection revealed many irregularities. As a consequence, Shourie says, the RBI cancelled the bank's licence.
ANI
