PM defends Pratibha Patil on charges of financial irregularities

New Delhi, June 27 (UNI) Prime Minister Manmohan Singh today defended UPA-Left Presidential candidate Pratibha Patil, saying there was no content in allegations of financial irregularities levelled against her.

Many sugar mills in Maharashtra defaulted in loan repayments due to environmental factors. Hence default in loan repayment by a sugar mill ran by cooperative bank of which Ms Patil was Director had nothing to do with her personally, he said releasing a book 'The New Asian Power Dynamic' at his residence this evening.

Among other things, it had been alleged that loans amounting to over Rs 40 lakh had been ''illegally'' granted to Sant Muktabai Cooperative Sugar Mill by the Jalgaon-based Pratibha Mahila Sahakari Bank headed by Ms Patil.

He also defended some of his Cabinet colleagues who were ''critical of President A P J Abdul Kalam's decision to stand for re-election'', saying the statements were only a reaction to the decision to re-contest but meant no disrespect to the President.

Talking about some issues still left unresolved in the 123 agreement to operationalise civil nuclear deal between India and the US, he said talks were on and hoped to find a solution at the earliest.

The government would keep Parliament informed about any developments on this front, he said.

The Prime Minister informed that he had allayed China's apprehensions over maritime cooperation between India and Australia that could also involve Japan and the United States.

It was not an agreement on security but one to ease merchandise movement, he told Chinese President Hu Jintao on the sidelines of the summit meeting of leaders from the G8 countries and the five outreach nations held in Germany earlier this month.

The present global scenario presented enough scope for both India and China to develop in harmony with each other, Dr Singh said.

President Jintao had agreed and accepted his explanation.

UNI