Why Kisan and small loans should be paid, when they know sooner or later, it will be waived. Why others too-when they can get away. There is no wilful defaulter, only politics or indiscipline in financial sector with back up of staff and politicians. We need income tax payers lobby of Kisan type agitation to avoid paying any tax just to feed all such nuisance.
Its true many rich& big business only willfully default by I issuing bogus post dated cheque s on dormant accounts or they keep far less amount than the chequeamount they issued for,all wilful&deliberate to evade the payment for years even if party files cheque bounce criminal case under Section 138 of NIA,these powerful rich people know how to escape possible arrest with money& connections with the concerned.That's why simple Cheque bounce cases goes on for years as L&O responsible for arresting the accused never cooperate with judiciary even after arrest warrants issued 4 to 6 times consuming months together running into years no wonder police report"accused not available at residential address mentioned( when a P.C visits that place)&Whereabouts not known" returning the warrants to Concerned court. Judiciary helpless though case is genuine a and in many cases the lawyers fees at rs1000 for each case day works out to more than the cheque amount besides physical& mental strain.That's why the accused rich wantonly evades payment know wing fully well that the petitioner gets vexed up and give up after one year when accused could manage to avoid arrest not a difficult thing for them when concerned are fully cooperating .That's why thousands if cases getting piled up due to these opportunistic sharks with malafide intentions & ulterior motive of evading payments despite strict laws are in force but operators are at mercy of the law enfo
Its true many rich& big business only willfully default by I issuing bogus post dated cheque s on dormant accounts or they keep far less amount than the chequeamount they issued for,all wilful&deliberate to evade the payment for years even if party files cheque bounce criminal case under Section 138 of NIA,these powerful rich people know how to escape possible arrest with money& connections with the concerned.That's why simple Cheque bounce cases goes on for years as L&O responsible for arresting the accused never cooperate with judiciary even after arrest warrants issued 4 to 6 times consuming months together running into years no wonder police report"accused not available at residential address mentioned( when a P.C visits that place)&Whereabouts not known" returning the warrants to Concerned court. Judiciary helpless though case is genuine a and in many cases the lawyers fees at rs1000 for each case day works out to more than the cheque amount besides physical& mental strain.That's why the accused rich wantonly evades payment know wing fully well that the petitioner gets vexed up and give up after one year when accused could manage to avoid arrest not a difficult thing for them when concerned are fully cooperating .That's why thousands if cases getting piled up due to these opportunistic sharks with malafide intentions & ulterior motive of evading payments despite strict laws are in force but operators are at mercy of the law enfo
I advised many investors who were interested in buying BIFR companies. I have attended many CDR (Corp. Debt Restructuring) meetings. These firms never turn around. How will they? The promotors are the same with no interest or lack of experience or with vested interest. Till the time the lender does not change the management change will never come. Wilful defaulting is just a first sign before it goes into BIFR. When I used to reach the bank for talks in a taxi the bosses of loss making firms and wilful defaulters come in their Mercedes with chauffeur. I wondered back then that when I look at the P&L and BS of these firms I feel sad, workers too have taken a haircut not just the lenders. Yet the senior most banker pays obeisance to that defaulter who butchered his own company and along with it destroyed wealth of so many investors and banks. When I undertake due diligience I find that these promoters are from best engineering colleges and with a foreign MBA or an A grade college MBA, some CA toppers or high scorers. Their personal CV is fantastic. Still wonder why do the finest minds do this kind of daylight robbery.
Re: Seths of a pauper India
by sachin patil on Jan 14, 2018 10:14 PM
The finesh minds do this kind of daylight robbery because there is no punishment. Has anyone questioned or brought to court the Bankers who approved and gave the huge loans. Media is immature to understand that they should not be running after stories of Mallya or Jindals but rather of the bank executives and officers who have enabled the survival of wilful defaulters and unethical businessmen through the days of credit growth and demonetization.
Re: Seths of a pauper India
by sachin patil on Jan 14, 2018 10:14 PM
The finesh minds do this kind of daylight robbery because there is no punishment. Has anyone questioned or brought to court the Bankers who approved and gave the huge loans. Media is immature to understand that they should not be running after stories of Mallya or Jindals but rather of the bank executives and officers who have enabled the survival of wilful defaulters and unethical businessmen through the days of credit growth and demonetization.
He cant escape from the conclusion that public wealth has long been plundered at will by wilful defaulters (read croxny capitalists) with the active connivance of the Congress party and with even more connivance of the BJP !!
