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No strings attached to loan given to Labour party: Chai Patel.
No strings attached to loan given to Labour party: Chai Patel
London, Mar 21 (PTI) Chai Patel, NRI founder of the chain of Priory Clinics and one of the 12 donors of the UK's governing Labour party before the last general elections, today said there were no strings attached to the loan and at no point did he discuss about anything in return.
"There were categorically no strings attached to this. At no point have I had an implicit or explicit conversation about rewards," Patel told BBC.
Besides Patel, another NRI entrepreneur, Sir Gulam Noon, founder of the Noon products providing Indian food to supermarkets, lent a loan of 250,000 pounds to the party.
The Labour party today published a list of 12 wealthy donors who had bankrolled its election campaign to the extent of 13.95 million pounds last year.
Patel, who had given 1.5 million pounds, said he was approached by Labour fund-raisers, rather than the other way round.
Although he would have been happy to give a donation, eventually they settled on a commercial loan - at an interest rate of 2 per cent above base rate, which will mature in August this year.
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Source: HighBeam Research, No strings attached to loan given to Labour party: Chai Patel.