Every business has loans and Mallya too has so whats the big hue and cry about ? If these are bad loans then that means banks never reviewed the risk in it. Now that the KF is bankrupt why should we blame Mallya. Those who approved the loans should be made resposible and sent behind bars. Unfortunate is that Indian media picks up something and then unfortunately the babus run behind it. Not done this will surely show us in a bad light. He enjoys what he has earned why are people J about it ? I think the loan is again a listed co. not his personal loan that he has not paid. I am not supporting anyone but as a point we are very bad when it comes to implementation of anything. What was the bank doing all these years sleeping over it ?
After buying a loss making airline air deccan he named it kingfisher and then pumped all his lifetime earnings into it and he lost his entire money to air deccan or kingfisher. He sold of most of his assets to pay all his money to Indian Banks and Indian Banks are known for making 2000 farmers committ suicides in Maharashtra alone.
How this money is allowed from Kingfisher to be transferred to his personal account, when there is audit, companies Act, SEBI, Banking act and many controls. No one is talking failure of all such agencies.
This could be a bigger scam than Satyam. Mahindra's saved Satyam employees, who will save KF employees??? The first amount recovered should go to the employees. Their salaries cannot be considered loans. They should have been paid when in service. After that let the banks or airports or IAAI etc comes into picture. It was wrong to for Hyderabad Airport( which has now filed a complaint) and other other airports to have allowed KF to run without getting their dues which reached huge proportions.
Re: Bigger scam
by Rajesh Chheda on Jul 08, 2016 09:06 PM
The law clearly defines the priority of payments, first is income-tax dues, then other statutory govt dues, then secured creditors, then unsecured creditors then suppliers, employees are last.......and personally i believe that is correct.
Malaya's story is going thru from last 3 yrs, First of all the banks should not loaned him such a huge amount without colateral and when they did it, they should not had grounded the king fisher airlines which had employed hundreds of persons. They had to seized his passport banned him to travel abroad tied him in hisMD's chair and asked him to pay back the huge public money loaned by banks foolishly. For a middle class entrepreneur it is so difficult to obtain the loan fm a public sector bank how can sbi consortium grants him such a big loan. And they are crying when he is left.
malya's assets should be acquired and all loans repaid to banks and all middle level and jr. level employees. be sure there are a lot of chota and not so chota malyas in the country. all of them should be booked. bank employees and politicians responsible for this should be put behind bar. no lawer should agree to help malya. prof. j m subramanya
can be generous only with Mallya's. Salaried class person has to pay EMI's on time. Govt ensures to tax the salaried class people more to recover the money defaulted by big guys. Good work. Squeeze what ever u can of salaried class people
Re: Banks
by paul theo on Mar 11, 2016 03:51 PM
FAME AND MONEY, WINE AND WOMEN, THE BEST OF THEM ALL, WITH PUBLIC MONEY, NO ONE DOES ANYTHING, BECAUSE THIS IS INDIA WHERE CRIMINALS, KILLERS AND RAPISTS THRIVE ALONG WITH SOME SUCH POLITICIANS
Re: Banks
by Harit Shah on Mar 11, 2016 11:46 AM
U r 100% correct! If I miss my EMI payment by even a single day, I am charged penalty plus interest! And here Mallya can get away with not paying Rs 9,000 crores to the PSU banks that are run on our taxpayer money! Rascals! The whole system is pathetically corrupt! All these years the banks, CBI etc were sleeping or what?!?! And now the rascal flies out of the country, and AFTER that these moronic banks including SBI attempt to get his passport impounded! Complete thickskulled numbskulls!
There is nothing wrong on money spent by Mallya. Why blame him? It is his Money. What about Money earned illegally from Public Govt. funds by our Ministers and laundered to tax heavens. Are they questioned? and recovery made from them? e.g. Chhagan Bhujbal, Tatkare, Mr. Ajit Pawar. How did they become so rich in last 10 years. Only mistake Mallya did is not repaying back Bank loans. In India everything done by Rich is pardoned.
Re: Money Spent by Mallya
by Anshuman Verma on Mar 11, 2016 02:31 PM
you are right. Without some Indians getting rich, Mallya couldn\'t have defied likewise. Our system lets the crime happen and takes pleasure in postmortem
Re: Money Spent by Mallya
by paul theo on Mar 11, 2016 03:53 PM
IF A PICKPOCKET IS HELD IN THE LOCAL TRAINS HE IS THRASHED TILL SOME DIE, BUT SUCH BIG PICK POCKETS LEAVE THE COUNTRY IN STYLE.
Re: Money Spent by Mallya
by paul theo on Mar 11, 2016 03:56 PM
BHUJBAL, TATKARE AND AJIT PAWAR AND PRAFUL PATEL, CAN WE KNOW HOW MUCH WEALTH THEY HAD 15 YEARS AGO AND HOW MUCH THEY HAVE NOW? THOSE WHO TALKED ABOUT ANTI CORRUPTION 2 YEARS BACK, DURING ELECTIONS ARE SILENT NOW, BECAUSE HIS COLLEAGUES ARE PROBABLY DOING THE SAME THING NOW. YOU SCRATCH MY BACK, I SCRATCH YOURS, BOTH ARE HAPPY
Re: Money Spent by Mallya
by Harit Shah on Mar 11, 2016 11:43 AM
Wow, so u r talking as though Mallya is the poorest of the poor! What a joke! We are talking of Vijay Mallya here and not politicians, so stick to the topic at hand! What an amazing statement you make - "Only mistake Mallya did is not repaying back Bank loans."!!! Wow! I mean, this is some serious Rahul Gandhi-level sycophancy!!! U r talking as though not repaying banks loans is the most minor of crimes, equivalent to a poor man stealing bread to satiate his unbearable hunger!!! If I miss my EMI payment by even a single day, I am charged penalty plus interest! And Mallya has not paid back Rs 9,000 crore to the banks, that too PSU banks that are run on our taxpayer money! How much more of a moron can u get! U thickskulled numb skull!! Mallya deserves jail and nothing else!
Re: Re: Money Spent by Mallya
by sanjay sharma on Mar 11, 2016 12:03 PM
Dear Mr Shah it seems Mr Shashi is one of those high profile politicians or their relative or he has not yet tasted the problems faced in defaulting the loan.
Re: Re: Re: Money Spent by Mallya
by Prasenjit Guha on Mar 12, 2016 12:52 PM
Mr Shah -- Why are you trying to justify one wrong by other wrongs? First condemn Mallya. People like you allow criminals the right because other criminals have gone scott free. Or do you have any other interest in Mr Mallya?
