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Editorial
Hype over Mallya's arrest
Instead of clearing the mist, NDA-govt and its cronies are not ready to explain the lapses that facilitated Vijay Mallya's flight to London
ActIT Jammu, ASP.net Projects, Java, Vb.net, C# Training Jammu
The hype created over the detention of well-known face of Indian corporate world and liquor baron Vijay Mallya in United Kingdom in the Indian electronic media was short-lived as expected due to misplaced conceptions. Already infamously described as 'King of Good Times' and owner of 5-Star flying experience in his Kingfisher Airlines, Vijay Mallya was further branded as run-away businessmen, who escaped from the country to avoid repayment of bank loans and clearing other debts from financial institutions. Unfortunately, there are serious questions which have remained unanswered and escaped the scrutiny of the law enforcement agencies which have been working overtime to malign him under the existing circumstances instead of making an earnest effort aimed at recovering the dues from him and giving them to the banks. Firstly, everybody, whosoever is somebody in the central government, has taken upon himself the charge of the banker and is making an effort to recover the money owed to the banks for the people who built the banking institutions with their deposits. Secondly, everybody in the central government has feigned total ignorance over the circumstances under which his flight out of the country was facilitated. Thirdly, nobody wants to explain why the lookout notice issued by the centre's various agencies, which are charged with the responsibility to prevent such 'escapes', was withdrawn and on whose behalf. Fourthly, why, whatever bailout in terms of financial re-finance extended to government-owned Air India and other private companies for clearing bad debts and making available additional finances for operating the Kingfisher Airlines, was denied to Vijay Mallya. Lastly, why Kingfisher Airlines, which had been grounded due to delayed payments to government agencies in terms of fuel charges and rents for airport usage, was not included in the plan for settlement of bad debts for which an amount of Rs 1.43 lakh crores was provided in the budgetary provisions during the budget session in Parliament two months back, was not included. Needless to forget the contrasting gap between this generosity of the government to the Centre's recent refusal to write off loans worth Rs 38,000 crores extended to farmers in the country on the plea that the NDA-government did not have sufficient funds for this purpose.

Going by the sequence of events that have been tracked so far, it appears that the government and agencies did not want to come to the rescue of the farming community which had availed of loans to the extent of Rs 38,000 crores compared to the bad debts of the corporate houses to the tune of Rs 1.43 lakh crores. This gives a clear indication that the NDA-government only wants to promote only crony-capitalism instead of helping its downtrodden sections of the society. So far Vijay Mallya's case is concerned, he was granted bail within hours of the arrest warrant issued by a district court in UK. His legal aides have indicated that it was clearly a voluntary act on his part to present himself before the court and present his credentials so far as extradition request from the Indian authorities is concerned. It has also not been explained by the NDA-government why its agencies have taken months together just to send the extradition request to the UK when all the papers for his recovery, arrest and trial in the banking courts were ready. There is also no explanation why they were waiting for somebody's nod from the concerned authorities to initiate the process so that he could be prevented from going abroad. It is only in the recent past when debates have been organised in the electronic media channels that some BJP and NDA leaders, who have donned upon themselves the roles of media management were seeking details about the withdrawal of lookout notice on Vijay Mallya when all the papers and orders are available in the public domain and common masses know about their existence. Moreover, nobody in the government has explained why no inquiry has been done and report submitted to the concerned authorities or put in the public domain over the circumstances under which he escaped from the country. It exposes chinks in the armour of the NDA government which only facilitated his flight from India to UK last year. Had the NDA-regime been sincere, it would have initiated action against some people in the government for this laxity instead of simply blaming the previous dispensations for extension of loans to Vijay Mallya and others in the corporate sector. Also why not identify those, who have been exempted from repayments and their cases settled with huge concessions at the cost of state exchequer to which common masses contribute their hard-earned money for the cause of development and progress.


News Updated at : Thursday, April 20, 2017
 
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