More trouble for Mallya: Hyderabad court issues non-bailable warrant

[V.Balasubramani]

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More trouble for Mallya: Hyderabad court issues non-bailable warrant

A non-bailable warrant (NBW) has been issued against industrialist Vijay Mallya after he failed to appear in a court in connection with alleged dishonour of a cheque of Rs 50 lakh to GMR Hyderabad International Airport Ltd.

The counsel for Mallya, said he will move the high court seeking quashing of the warrant.

Read more at: http://www.hindustantimes.com/business/hyderabad-court-issues-nbw-against-vijay-mallya-in-cheque-dishonour-case/story-1ssmtPp44OG4TYpBEN4rPP.html

 

[V.Balasubramani]

[h=1]Vijay Mallya case: Banks say they followed RBI signal[/h]
MUMBAI: Some of India's biggest banks say they aren't solely to blame for not cracking down in time on Vijay Mallya, instead providing more credit to Kingfisher Airlines.

A surprise decision by Reserve Bank (RBI) in 2010 to widen the corporate debt restructuring scheme to include the aviation industry acted as a signal to lenders that they should extend more loans to shore up Mallya's ailing carrier, said three people, one of whom is a former bank chief. This generous attitude was followed with regard to other industries such as steel, roads and power, they pointed out.


Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst

 

[V.Balasubramani]

[h=1]When Vijay Mallya says 'I will return one day' the billionaire means he might not return at all[/h]The famous Sanskrit proverb—Vinaashakale Vipareeta Budhhi—essentially means that when one approaches his end, the intellect turns weak and whatever he does become the opposite of what he should be doing ideally. For embattled Indian drinks mogul, Vijay Mallya, once the poster boy of all that symbolized wealth, success and King-size life full of luxury for Indians, the proverb holds crucial importance at this stage of his life.
Because that is precisely what Mallya is doing now.

In an interview to Sunday Guardian on 12 March, Mallya reemphasized that he is not an absconder, he respects the Indian laws and he left the country on a personal visit. Further, Mallya, said he has the best intentions and explained how loan defaults are part of any businesses. Till here, his statements give enough room for his sympathizers to argue in his favour and blame media for the hysterical frenzy.


Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst

 

[V.Balasubramani]

#MallyaVsMe: Who stood guarantee for Mallya when the bank gave him Rs 1500 crores in a takeaway bag?

The difference between the way my bank treats me and the way Vijay Mallya got treated is a little bit different. Just a dinky little bit.

Three weeks ago I asked for a loan of Rs 1 lakh. After he had stopped laughing and rolling on the floor and wiping tears of mirth, the bank manager asked me for collateral, a character certificate and he gave me three forms as complex as an Msc examination. He also sent me to search for a magistrate/gazetted officer and two people (with social status) to stand as surety. I was also asked to get a letter from my company showing how much there was in my PF and end of term benefits. He told me there would be a few more forms in the second round but first I would have to take a polygraph and see if I make the cut, rather like Ajinkay Rahane. "No", he said, "We cannot say for sure if you make the grade. We have to be careful, he said. Our bank is known for exercising caution."

I want to know who stood guarantee for Vijay when the bank gave him Rs 1500 crores in a takeaway bag. And did he get himself a gazetted officer? How cautious and careful was that? My friendly next door banker warned me of dire consequences and the electronic voice threatened to have me shot because I was Rs 17000 into overdraft.


Read more at: http://www.firstpost.com/india/mall...rs-1500-crores-in-a-takeaway-bag-2671458.html

 

[V.Balasubramani]

Is broke 'VJ' Mallya living it up in plush English mansion?

The villagers know him for his fast cars, and beautiful guests'

One look at the pictures circulating of the English mansion that Vijay Mallya is believed to have “retired” to and you are instantly reminded of the line from the blockbuster The Dark Knight Rises: “The rich don’t even go broke the same as the rest of us, huh?” In the film, Selina Kyle says this line in response to hearing that, though bankrupt, Bruce Wayne gets to keep his sprawling mansion and estates.

If indeed, Mallya has left behind a debt of nearly Rs 9000 crores in India and returned to his estate in Tewin in North London, then one can’t help but feel much like Selina Kyle.

After all, as The Times of India reports, the sprawling 30-acre estate has a tennis court and two swimming pools, all enclosed with high walls, metal gates and round-the-clock security. “State-of-the-art interiors and a battery of expensive cars accessorize the bungalow in the quiet, verdant English village,” according to an NDTV report.

See more at: http://www.thenewsminute.com/articl...sh-english-mansion-40180#sthash.wCRqLfnx.dpuf

 

[V.Balasubramani]

Let’s get a few things straight about the Vijay Mallya saga

In the entire hullabaloo over the baron's flight, we are forgetting the coop that nurtured him.

Let’s get something straight about Vijay Mallya. The popular narrative is that he milked the banks for Rs 9,000 crore to support his hedonistic lifestyle in India and abroad, and took off when the debt burden became excessive or no more money was forthcoming to evergreen his dues. But we seem to forget that he enjoyed a hedonistic lifestyle and had much money to spread around even before Kingfisher Airlines.


Much before his airline came into being, he reportedly lavished money on the Janata Dals of Ramakrishna Hegde and HD Deve Gowda, the Bharatiya Janata Party of Atal Behari Vajpayee and LK Advani. The allegations of large amounts of money being paid to the legislators of the BJP and and the Deve Gowda rump of the Janata Dal have long done the rounds for his two Rajya Sabha terms. The Congress may not have allotted him votes, surplus or otherwise, but it does not mean that the Congress and other parties did not benefit from Mallya. The Rs 9,000 crore Mallya is now found owing to the public sector banks and others is the money he lost on Kingfisher Airlines.

Read more at: http://scroll.in/article/805019/lets-get-a-few-things-straight-about-the-vijay-mallya-saga

 

[Iyyarooraan]

The banks sent goondas to recover Rs.121, 1000 or 13,000 from ordinary citizens who just could not escape anywhere. In Mallyas case they could have sent army, navy and air-force to recover the huge sums. Everybody is now quiet with fait-accompli. Aam tax-payer is planning to clear his dues because the elections are around.