How kIngfisher was allowed to be destroyed by Chidambaram, ajit Singh and Fonia. How spicejet was taken out of a crooked owner and allowed to revive by Narendra Modi! who is a bigger thief: Fonia and her gang or Mallya?
Re: tale of two airlines spicejet and kingfisher
by Nitesh jain on Mar 15, 2016 05:53 PM
my question would be ... Why Government interference be it... Kingfisher or Spicejet
Re: Re: tale of two airlines spicejet and kingfisher
by Defender on Mar 15, 2016 06:50 PM
Enron, Worldcom scams shook US and immediately they came up with Sarbanes Oxley Act. You don't hear of such Scams again in US. Here in India it was Satyam, Sahara, now Kingfisher Airlines and many more will happen, still our folks won't wake up or frame a law to prevent such happenings in near future. This is the difference between the West and India.
Dont have too many kids. 1 is more than sufficient. Looks like a joke but its true:) such people are responsible for huge population in India.whereas owners will keep enjoying , thats life,cant help
The fault lies with our system the employees are made to rot while the promoters of the companies loot the money and make the company sick and force the company into liquidation without any asset to pay their helpless employees.Hence corporate laws needs a drastic change where the defaulting promoters are put behind bars otherwise this type of cases will never end.
Point No.1: Anyone with a little financial prudence can set up a company, build a brand name, float an IPO and make a lot of money. This is a common practice, there is nothing wrong done by Mallaya. Only the junta who doesn't have this financial prudence or the guts, would be blaming Mallaya but they should remember this is what industrialists do and govt. support them to increase the GDP and create jobs. Point-2: In fact, what nobody is talking about is that kingfisher fiasco has resulted in a lot of losses to its shareholders too, the people who had believed in the brand and purchased shares at ever increasing prices, went for a loss when the stock tumbled. Point 3: Can Mallaya be blamed for destroying the brand name of kingfisher, running the company into ground, creating loss for the shareholders and creditors. Point 4: Has Mallaya done this purposefully, was he involved in insider trading, did he liquidated his shares before the prices tumbled. This shall be the point of actual debate. Point 5: Kingfisher is not the first company that has gone bust then why so much noise. Only thing we have to check is that is there an evidence that Mallaya didn't do what he could do to save the company from going downhill. Point 6: This ultimately brings to the final point, which again nobody is saying: Companies come and companies go, but nobody else has made a spectacle of running behind half-naked women in the name of doing business while the business itself was going down.
Re: Companies come and companies go
by Defender on Mar 15, 2016 06:51 PM
Enron, Worldcom scams shook US and immediately they came up with Sarbanes Oxley Act. You don't hear of such Scams again in US. Here in India it was Satyam, Sahara, now Kingfisher Airlines and many more will happen, still our folks won't wake up or frame a law to prevent such happenings in near future. This is the difference between the West and India.
Mr. Anirudha, you are lucky that you are being heard now, by media and many people. Nice to hear that you got another job and your problems are mitigated to some extent. I can understand the plight of a person when he is jobless and his dues are not paid. In a way, thanks to Mallya's flamboyant life style, Kingfisher is in news and the plight of its employees is being understood by others.
But, please realise that there are thousands of people whose lives have been ruined by their employers like Mallyas but their plight is unknown to outside world. The laws in India are certainly not in favor of the employees. That's why even Mallya ditched the Indian staff while paid all dues to those outside India. I myself am an example. Having worked for a well known group in South India, which talks about Value, Trust and Service, for about 15 years continuously, I lost heavily on being denied for my salary dues, gratuity amount. Retirement bec of unemployment, that too when dues are not received is the worst thing to happen to any individual. You people got some hint that things weren't going well in KFA whereas, for many, even now, a deception by a company belonging to this group is a shock. Lives of about 150 employees and their families were ruined by the company. The group continues to "shine" with the remaining 40 odd companies.
Labour commissioner's notices are directed to the dust bin by the Management of the group even after siphoning off the Gratuity money.
