Mallya is not at fault. The law is very clear Company which was operating KFA is a seperate legal entity. The loans are given to this seperate legal entity and not to Mallya. The reason for setting up Limited Liability of the Companies is very clear from the start. In the event of loss the Shareholders liability is to the extent of Share Capital Contribution and personal properties can not be attached.
Mallaya has cleverly stitched together a deal with ICC which is an overseas body to market his product. If any one has any objections then they should first aim to stop RCB from participating in IPL which is under the direct control of BCCI. Targeting Mallaya in this manner is not acceptable. Adani who is a close personal friend of the PM should be similarly hounded.
Re: Mallaya has not done any wrong with this deal
by slider on May 22, 2017 05:06 PM
I did not hear of any Gujarati hounded by Mr Modi. Some like Shri Jignesh Shah is busy erasing evidence of his past undoings, but, shri Modi ji has not heard of this individual.
