Issuing summons, warrants, non-bailable warrants notices etc. is a big, time consuming work for our courts, but in these PMLA cases, it is a waste of time and energy. These culprits do not care for any such summons etc. They are not here, but abroad, not traceable, and they naturally scoff at these clerical steps being taken. The focus of the present govt. now is on recovering the money values through selling out their assets in India. The punishing part is allowed to cool down. The thing necessary is to have a US "seals" type highly trained, and committed commandos, who in groups of 10 - 20 should go to foreign countries and physically grab these individuals and fly them to India in specially pre-chartered aircraft. Something like Osama or Entebbe operation of the US/Israel. Even the foreign countries would certainly not object to this, knowing the crimes of the culprits. Once the criminals are in India, let the paper formalities be completed.
Banking reforms brought recently is showing results. Now banks cannot shy away from disclosing scams and wrongdoings. We can see more such scams tumbling out
Sir, I think the Nirav Modi and Rotomac scams are just the beginning. The PSU banks have huge NPA's. In the coming months many more skeletons will come tumbling out of the bank cupboards. The loser will be the shareholder and the honest taxpayer.
Is it not true that many a businessman in India have taken the route of raising funds by hook or crook and then siphoning it off as way amassing wealth? They have been targeting banks, financial institutions and even general public for their preplanned loot. This fraudulent practice had been prevalent for quite some, at least since independence, and there has been no checks and balances whatsoever. Whoever had the proximity to the who is who in banks and those in power, continued to do this unabated for years. Now we get to see some of them fleeing the country with their loot. What has changed I don't know; but hope that the authorities will make it more and more difficult for these guys to get away with their loot.
This story glorifies him as great businessman however the present scam of PNB that not only brings his family bad name but more than that it also paints India in bad color as without collusion between corrupt politicians and bank officers to back him to get him such huge loan. This will also boomerang in present or future as present Govt claims in transparency in all dealings.May be this is tip of iceberg it exposes deep maladies Indian finance sector suffers from due to deep nexus between corrupt businessman, Politician and Bankers. Aftershocks of this and similar issues will rock the nation for long time to come.
This story glorifies him as great businessman however the present scam of PNB that not only brings his family bad name but more than that it also paints India in bad color as without collusion between corrupt politicians and bank officers to back him to get him such huge loan. This will also boomerang in present or future as present Govt claims in transparency in all dealings.May be this is tip of iceberg it exposes deep maladies Indian finance sector suffers from due to deep nexus between corrupt businessman, Politician and Bankers. Aftershocks of this and similar issues will rock the nation for long time to come.
Re: Corruption breeds corruption
by paul theo on Feb 25, 2018 03:36 PM
THEY ARE HAND IN GLOVE WITH THE PRESENT POLITICAL CLASS RULING US, OR ELSE HOW IS IT POSSIBLE
This story glorifies him as great businessman however the present scam of PNB that not only brings his family bad name but more than that it also paints India in bad color as without collusion between corrupt politicians and bank officers to back him to get him such huge loan. This will also boomerang in present or future as present Govt claims in transparency in all dealings.May be this is tip of iceberg it exposes deep maladies Indian finance sector suffers from due to deep nexus between corrupt businessman, Politician and Bankers. Aftershocks of this and similar issues will rock the nation for long time to come.
