Tuesday, 19 April 2016

Mallya and the mess 


While a small farmer in tamil nadu gets thrased on defaulting on a 3 lakh rupees loan of which he had already paid a substantial amount ,Vijay mallya the liquour baron smiles his way out ,all the way to the UK even with a default as high as 9000 crore .the farmer gets a beating of his life ,while mallya has memebership of the parliament .It comes as huge surprise as to why did mr mallya get such staggering sums of loan by individual banks ,whereas a common man has to get through a lot of scrutiny and produce collateral security before getting a loan .
Is it that rules are different for different people ,or is it that a few influential ones make the rules bend in their favour ,which ever way it be ,we have reasons to worry.Worry for the plight of the poor tax payers ,for if retrieving the amount does  not frutify ,the loans would have to be written off ,thus diminishing the assets of the public sector banks and indirectly the taxpayers ,even if the banks are recapitalised ,it is us the tax payers who will have to bear the brunt of the expense.
what needs to be done in this case is that first the "willful" and absconding debtor should be brought to book and all attempts should be made to retrieve back the humongous amount and what needs to be ascertained is that the banks do not find themselves into the same mess ever again .The very fact that the flamboyant bussinessman has been fleeing since march 2 reflects poorly of the law enforcement authorities and mocks the might of the goverment .Mr mallya should be brought to book and attempts should be made to retrieve every penny ,also the distraught and hapless employees who had worked without pay for almost an year with the airlines ,their grievances should be addressed as well blogger.com