Impose ban on bank defaulters leaving the country


Subhash Chandra Agrawal | March 10, 2016 | New Delhi

#Kingfisher Airlines   #Rajya Sabha   #Vijay Mallya  

It is shameful confession by Attorney General representing the government of India before the Supreme Court that bank defaulter Vijay Mallya fled the country on March 2.

Mallya was last seen in the Rajya Sabha on March 1 during the ongoing budget session, as a nominated member, amid the news reports about his bank-default and chances of fleeing the country.

It cannot happen without some serious lapses in the system.

High level enquiry should be made and guilty ones punished for Vijay Mallya fleeing the country. The government should immediately confiscate all his properties in India, and trace him. Countries where his properties are situated should also be requested to assist the government in recovering money. Parliamentary rules should be changed whereby chairpersons of both the houses may become duty-bound to assist government-agencies in catching hold of a wanted Parliamentarian.

Preventive measures should be taken including confiscating passports of bank-defaulters. Names of all bank-defaulters, having loans of Rs 100 crores and above, should be regularly published in media and websites of concerned banks in a policy of ‘name and shame’. It is indeed shocking that Vijay Malayya was given bank loans in tune of thousands of crores of rupees on his personal goodwill rather than collateral security with no strict recovery steps taken ever as his Kingfisher Airlines ran in financial trouble. Anyone with huge bank loan can easily generate a lavish lifestyle to generate ‘personal goodwill’ required for further bank loans!




Other News

Governance Now journalists win award for best TB reporting

Governance Now on Thursday bagged the REACH Media Awards for 2017-2018 for best reporting (English category) on tuberculosis (TB) at an event co-hosted by REACH, USAID and Lilly Global Health in partnership with the Lancet Commission on Tuberculosis. Our cover story

Simple facts about Special Status states

N Chandrababu Naidu-led Telugu Desam Party (TDP) on Friday parted ways from the BJP-led National Democratic Alliance (NDA) at the centre. The official quitting of the alliance was preceded by the pulling out of two ministers out of the Narendra Modi government, a week ago. The

Peak performance

What is Narendra Modi’s biggest electoral success during the current term as prime minister? At first blush, most would say the Uttar Pradesh victory. That would be looking at the obvious (UP is the heart of the Hindi heartland) and at mere numbers (it has the maximum Lok Sabha seats). Yes, it was a

On a dangerous tangent

The killing of a seven-year-old boy at Ryan International School, Gurgaon, suddenly brought focus on violence by students in school. It was a gruesome case indeed: On September 8 last year, Barun Chandra Thakur dropped his children, including seven-year-old Pradyuman, at school around 8 am. By the time he

Juvenile crime and punishment

Like our jails, our correction centres for juvenile offenders are hardly conducive to bringing about positive change. No one will dispute the fact that an underaged criminal, especially if he or she is a first-timer, needs to be given a chance to reform, however heinous the crime. Unfortunately, society&rs

If you’re happy and you know it...

Finland has emerged as the world’s happiest country, as per the World Happiness Report 2018. The report has ranked 156 countries by their happiness levels, and 117 countries by the happiness of their immigrants. This year, the main focus of the report is on migration within and between countries.

Current Issue

Current Issue


CM Nitish’s convoy attacked in Buxar


Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter