Businessman-politician nexus has undermined state’s independence, promotion of public good.
The letter, curiously, makes out that the agency was unaware of the system of alerts via the APIS and now that they had been made aware of it, there was no need for Vijay Mallya’s detention.
Calling demonetisation the world’s biggest scam to convert black money into white, Rahul Gandhi said the exercise took money from farmers, women and deposited it “in pockets of thieves such as Vijay Mallya”.
The loans were taken from a consortium of 17 banks led by the State Bank of India (SBI). Kingfisher began defaulting on them beginning 2009-10.
The CBI had registered two cases against Mallya related to the IDBI loans in 2015 and consortium loan in 2016.
Instead of competing to distance themselves from big business our political leaders should explain to the people of India why a company that produced 40 per cent of our copper was forcibly closed by the Tamil Nadu government.
Hours later, the CBI issued a statement arguing the lookout circular was changed in 2015 because there was no “sufficient grounds to detain and arrest” Mallya then.
The Congress president also alleged that Sharma is Prime Minister Narendra Modi’s “blue-eyed boy” in the CBI.
The Congress questioned the PM’s silence on the Mallya issue, and asked who was the “chief architect” of his “escape” from India and “who was his protector and benefactor”.
But don’t let l’affaire Mallya pave the way for return of unfair motif of businessman-as-villain, taint enterprise itself.
The government and the Opposition have been trading charges ever since Vijay Mallya claimed Wednesday that he met Finance Minister Arun Jaitley before he left India for London.
While the banks missed out on stopping Vijay Mallya from leaving the country, the SBI-led consortium of 17 banks finally filed a petition in the Supreme Court on March 5.
On Wednesday, Finance Minister Arun Jaitley had described Mallya’s claim as “factually false” and said that the businessman had only briefly caught up with him in Parliament. Mallya himself downplayed his claim later to say there was “no formal meeting”.
Jaitley has denied having had any formal meeting with Mallya who he says met him briefly in Parliament and was advised to talk to bankers. So, who downgraded the LOC against Vijay Mallya and why?
The SBI notice of August 19 alleged diversion of funds by Kingfisher Airlines to UB Group of companies and other firms. Mallya challenged the decision of UBI and SBI in various courts.