Monday, 14 March 2016

The 'King' Robber Mallya! 9,000 Crore 'Wilful Defaulter'

How Many Days Mallya Will Enjoy in London?


The story of a ‘wilful defaulter’ who claims himself liquor baron, the king of good times, is very interesting. In the summon by ED, Mallya was called a liquor baron rather than a defaulter who looted the money of innocent investors. This tendency of a reputed entity shows the dualistic nature of law enforcement.


Meanwhile, Mallya is not coming to India; instead, updating his twitter status regularly. Sometimes he proclaims that I supported media houses and yesterday he said I do not flee from India, I am a business man I have many works across the country.


Okay, settle with it; let him go outside the country, but what about the banks which gave him a huge amount of money? The court also blamed the banks that knowing the work of a company how could they provide capital in such abundance. A common person of India has to get all his documents verified and then only he/she can get loan for any work. May god not do it with someone, but what if sudden misfortune breaks on the person who has taken a loan? Without waiting for a quantum second, the banks put the name of that person in ‘wilful defaulter; list. Some great ‘economist’ from India may also publish an article in any reputed newspaper that farmers, students, lower classes are creating more non-performing assets (NPA). Let me tell you, readers, if we add all the amounts that farmer’s loan tantamount to, I surmise if it can make up to the amount of Jindal and Mallya loans!


IDBI credited him with 9,000 crores after knowing the fact that Kingfisher airlines is no more a ‘king of good times’. If a single person is the reason for 9000 crore NPA and what will happen to the Indian Economy, God only knows! Not only that, he King Mallya case can also entice other business persons to a notion that ‘loans need to enjoyed, when payment comes, ask for yet another loan!’


Furthermore, what have they done to India? The Gini coefficient in India went up from 0.43 (1955-56) to 0.45 in (2004-05). The chasm that has been created between the lower class and upper class in India has only widened! The monopolies inquiry commission (1965) found that 75 business houses controlled 1536 companies. That results into the exploitation of labours by the industrialist class.


However, the good thing is that the rise of ‘make in India’ and ‘Start up India’ has let the youths come up in the market. They are challenging the prevalent monopoly in the market and are doing their best to bridge the gap between riches and the poor. Nevertheless, we MUST appeal from the government to give Mallya a ‘fair justice’ and trial him to his last penny. It will not only strengthen the faith of common Indian citizen in the system, but also set an example so that we don’t have to see Mallyas in future! Yes, no more wait - #CatchTheKing

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