Claim: RBI waived Rs. 1073 crores loan of Jain Infra Pvt Ltd company owned by Jay Shah.
Fact-check: There is no evidence to link Jay Shah with Jain Infra Project Limited - FACTLY
Verdict: according to a rti response, a sum of rs. 1073 crores have been written off to jain infra projects limited. as per the information available on ministry of consumer affairs, jay shah is not featured in the list of directors of the company. also there are no reports of associating jay shah to this company. there are allegations of meteoric rise in revenues and unsecured loans acquired by the company owned by jay shah. however, here is no mention of loan waiver or write off to this company. it is noteworthy to mention that it is not rbi who waives or writes off loans, but the concerned banks. hence the claim made in the post is false.
Organisation: FACTLY
Author: Chaitanya
Date published: 2022-02-01T13:57:26