859 If Banks tighten up, not only defaulting Corporate Borrowers are to close down, sometimes even Banks have to close down, or declare themselves sick!

Here are two links to two articles by Shri Mohan Guruswamy, a renowned author. A comparative study of both the articles, juxtaposing them, will give a clearer picture of what is happening in this smog-ged country's soot-blurred Indian Economy. The first is, about our burning current topic, Mr. Narendra Modi, our beloved Prime Minister, titled "Tales of notebandi the PM can’t hear". This article can be found in DeccanChronicle.com dated 21st Dec. 2016, print edition, editorial page. Click here to go to Deccan Chronicle and study Mohan Guruswamy's article.. The second is about Vijay Mallya, author: Shri Mohan Guruswamy only. Title is When a business makes a loss, it doesn’t always mean the money was stolen. It often means that it has spent more money than it has earned. It is from Indiatrendingnow.com. Click here to go to Indiatrendingnow.com..

Links to our previous posts concerning default of Shri Vijay Mallya to Indian Banks:--

1. Click to go to our post 691

2. Click to go to our post 673 dated 26th Feb. 2016, discussing Mr. Vijay Mallya's plans.

ybrao-a-donkey's personal loud-thinking. Others are under no compulsion to agree with these.

Our Prime Minister seems to have lost track of Indian Nation's, Indian Economy's priorities. He seems to concentrate more on his own undisclosed personal priorities. Shri Mohan Guruswamy has rightly used and quoted the story of monkey throwing stone on a fly+nose, to ward of a fly perking on the nose:

"...With almost four-fifths of the 50 days gone and with the seriousness of the demonetisation injury apparent, the Panchatantra tale of the devoted monkey who cut off his royal master’s nose to get rid of a pesky fly that threatened the royal slumber comes to mind. “Cutting off the nose to spite the face” is probably the more apt expression. More to the point is the common warning against a needlessly self-destructive over-reaction to a problem: “Don’t cut off your nose to spite your face”. It’s a warning against acting out of pique, or against pursuing revenge in a way that would damage oneself more than the object of one’s anger. ..."

Readers may find that in our blog post No. 856 Click to go to 856, we have used the analogy of "throwing a huge boulder from a hilltop to downhill", of the book pancha tantram's mitra bhEdam, using the conversation of fox damanaka addressed to fox karaTaka.

Prima facie, by giving the title "When a business makes a loss, it doesn’t always mean the money was stolen. It often means that it has spent more money than it has earned", referring to the losses made by Mr. Mallya and his KingFisher Airlines, Mr. Mohan Guruswamy appears to give an impression, as though he has sympathies towards Mr. Vijay Mallya.

"...When a business makes a loss, it doesn’t always mean the money was stolen. It often means that it has spent more money than it has earned. This means employees got paid for all the years, except the last year, most of the time when the airline did not fly, the oil companies got paid for aviation turbine fuel supplied, the leasing companies got paid for the planes hired, the caterers got paid for the meals supplied on board, the airports got paid their landing and parking fees, and the taxes and surcharges due for the most part were paid. All during this period, Kingfisher Airlines did not sell enough seats to cover the costs, or just spent more money than it earned. ..."

But these sympathies are not for any extraneous or superficial reasons. This sympathy may be stemming from-because, all the Political Parties in India, co-MPs, Bureaucrats, Bank executives, Tax Officials, Corporate co-tycoons, Film Stars, Sports Persons, Models, Dancers, Lawyers, may be some Judges, who else not, have used Mr. Mallya to satisfy their own desires by milking him and his Companies.

"... He lavished money on the Janata Dal’s of Ramakrishna Hegde and Deve Gowda, the BJP of Atal Behari Vajpayee and LK Advani much before Kingfisher. The BJP itself, that is the party and its MLA’s, took over Rs.100 crores from him for his two Rajya Sabha elections, and the Deve Gowda rump of the Janata Dal probably more. The Congress never allotted him votes, surplus or otherwise, but it does not mean that the Congress and other parties did not benefit from Mallya. And then lets not forget MJ Akbar. ..."

A lot to write here. This is a 10,000 page issue/subject. There is no beginning, no middle, no end.

To continue. सशेष. ఇంకా ఉంది.

833 Govt. of India should amend Banking Regulation Act to make Bank Balance Sheets more transparent

Here is a news report from Indian Express.Com which indicates that State Bank of India has written off bad debts of Willful Defaulters, to the extent of Rs. 7,016 crore (Rs.70.16 billion) or approx. $1.2 billion. Click here to go to Indian Express and study the news Of this, the largest chunk of Rs. 1,201 crore or approx.$200 million, goes to Mr. Vijay Mallya of KingFisher Airlines. Here is a quote from the News Report:--

"... The clean-up saw the bank forgo almost Rs 1,201 crore in dues owed by Vijay Mallya’s defunct Kingfisher Airlines, which heads the list of wilful defaulters. Documents accessed by DNA reveal that 63 accounts have been fully written off, 31 partially written off and six have been shown as NPAs. SBI adjusted its balance sheets by moving the Rs 7,016 crore to an Advance Under Collection Account (AUCA). The top wilful defaulters include KS Oil (Rs 596 crore), Surya Pharmaceuticals (Rs 526 crore), GET Power (Rs 400 crore) and SAI Info System (Rs 376 crore). ..."

Mr. Arun Jaitley has tried to pacify people that the advances have not been waived, as goes the popular belief created by Media. In a way, we cannot blame Media for their lack of knowledge about the Indian Banking Procedures. In reporting crucial large-scale financial matters, Media will have to understand the implications first. Else, there is a danger of people getting panicked and they may blame the Bureaucrats, Government, and the Politicians.

DISTINCTION BETWEEN WRITE OFF AND WAIVER

IN case of 'write-off' a portion of the profit is set aside for Bad and Doubtful Debts. Else, there will be a danger of showing bad and doubtful debts on the assets side of Balance Sheets of Banks. Then Bank Balance sheets become obase with fat, consisting of sick assets. After writing off, banks' balance sheets lean, because only healthy assets are shown.

This may be a standard global banking practice, which Indian Banks have to adhere to, if they have to participate in International Transactions. Else, foreign banks and suppliers/buyers may raise objections about Letters of Credit/Guarantees / other Indemnifying Commitments offered by Indian Banks. Presenting healthy balance sheets is an International Banking Need. To that extent, Mr. Arun Jaitley will be justified in saying that there is no waiver, but there is only a write off.

When a write off is made, though the items have been removed from the balance sheets of Banks, the Banks have a responsibility to recover the written-off debts through appropriate legal processes. Writing-off does not absolve Banks from their responsibility to recover the dues, unless they are 100% certain and definite that the debts can never be recovered.

BANKS SHOULD PUBLISH EVERY YEAR, A BOOK CONTAINING LISTS OF WRITTEN-OFF DEBTS

Though we may probably not find a provision in Banking Regulation Act, that Banks should publish cumulative lists of off-balance sheets, written-off debts every year, it must be done. Lest, there should emerge a danger of Banks forgetting the off-balance sheet dues. This historical list should start from the date of establishment of the Bank. Banks should also place the Book on their websites for permanent reference. We should, now, have these lists, at last from August 15, 1947. Even if Banks forget recovery of written-off debts, people should not forget, Govts., RBI should not forget.

If necessary Banking Regulation Act should be amended, to permit Banks to publish their books of Written-Off debts.

To continue. सशेष. సశేషం.

825 (Part 1/10) Will Mr. Ratan Tata become another Vijay Mallya? It is difficult to say!

It is difficult for ordinary donkeys like me to answer this question. To answer this question, one should have inside information of what has really happened, is happening, and will happen in Tata Group Companies. Even Federal Bureau of Investigation (FBI) of U.S.A., Scotland Yard of UK, KGB of Russia, (etc. etc. globally), Enforcement Directorate, CBI, Supreme Court of INdia, High Courts, SEBI, Ministry of Finance, Ministry of Commerce, in India, will not be able to answer this question, because most of them will start their work, after something happens, and that something comes out in a significant manner, and in any way after things become nearly UNSOLVABLE. They enter late. Proof: We have seen this in case of Sahara, Vijay Mallya's Borrowings, AgriGold, Sharada Chits (Bengal), Satyam Computers of RamaLinga Raju.

IMPORTANT CLARIFICATION

I do not wish to create here some panicky rumours about Tata Group of Companies, or some other Group of Companies. Writers, do not have such genius brains to create rumours. Writers, basically, are analyists. Then, their thoughts are influenced by some sort of ideas and ideologies, howsoever, anachronistic / outdated they may be. And those analyses are to be based on SOUND LOGICAL REASONING and not on HEARSAY or BASELESS APPREHENSIONS / FEARS.

I have only one grievance and grouse. Year by year, writers are becoming slaves of Capitalists, because writers for their livelihood and survival, depend on the Capitalists. Media Business Analysts, Credit RAting Analysers etc. have lost their sense of reasoning after their socialisation with the Corporate Empires.

NEED FOR WRITERS TO HAVE IDEOLOGIES

My ideology is True-Complete Socialism which may be anachronistic and sometimes seem day-dreaming. What I write here therefore, is an examination of global scenario, UK scenario, Indian Scenario, European Scenario, African scenario etc. from the point of view of attainment of True Complete Socialism through civilised unbarbaric / legally permitted ways, through intellectual upgradation of people, particularly those who take voting decisions. What I write, I intend to make them useful not only to INdian voters, but also global voters, particularly, contextually, now, the American Voters who are going to "DECIDE" their voters in a week's time.

Decisions taken by Heads of Governments / Institutions / Businesses / Corporates, have been, now are, and will continue, to be complex. They will have long term implications affecting economies / political state(s) of countries and Nations. Hence, whether in Capitalism , or in True Complete Socialism, or something else, decisions are to be taken COLLECTIVELY, and not at the fancies and whims of some charismatic individuals, howsoever great their geniuses may be.

LOCAL KNOWLEDGE OF 'CLAN' OR 'DYNASTIC' AFFAIRS

We shall start with an interesting link. Click to go to Deccanchronicle.com dated 29.10.16 containing an Opinion of Ms. Shobhaa Dey about the fallout between Mr. Cyrus Mistry and Shri Ratan Tata. Here is one quote from the article of Ms. Shobhaa which highlights the need for local knowledge, and interest of locals into the affairs of our Corporate Emperors.

"...In India, it’s difficult to get bigger than the reticent Shapoorji Pallonji family. I am not going to trace the family tree to show how exactly the main protagonists in this messy sacking are related — through marriage and otherwise. Even for someone like myself, living in South Mumbai, and not too far from where these billionaires reside, I can tell you confidently, most people wouldn’t recognise anybody from the Pallonji family besides Cyrus Mistry’s bête noire — the larger-than-life, living legend Ratan Tata. Here’s an intricate and complex saga waiting for a television series — so many intriguing players playing such complex games! The mind boggles.. ..."

Ms. Shobhaa Dey has not given the relationship betwee Mr. Cyrus Mistry and Shri Ratan Tata: This information can be studied at the link Click to go to Wikipedia for studying more about Shri Cyrus Pallonji Mistry..

"...Mistry was born to a Parsi family in Mumbai, the younger son of Indian billionaire and construction magnate Pallonji Mistry by his wife Patsy Perin Dubash. Both his parents belong to the Zoroastrian faith and have roots in India. However, Mistry's mother was born in Ireland, and his father chose to take up Irish citizenship. Mistry has an elder brother, Shapoor Mistry, who is also an Irish citizen, and is married to Behroze Sethna, the daughter of Parsi lawyer Rusi Sethna. Mistry also has two sisters, Laila and Aloo. Laila is married to Rustom Jehangir, a London-based portfolio fund manager. Aloo is married to Noel Tata, the half-brother of Ratan Tata. ..."

yb-donkey's personal views, not intended to be imposed on others, but there is nothing wrong in publishing them

Like elsewhere in the world, particularly the USA, Canada, Europe, ANZ, South East Asia, the Corporate Governance in India also is FUMID and MURKY. The only difference is in US-Can, Europe, ANZ, dynastic puppety controls of Corporates are kept closed secrets, whereas in India there is no such "siggu biLLa (Telugu language phrase)". Approximate English for the Telugu word 'siggu biLLa': siggu=shame, shyness. biLLa=a small plate. In old days it was a custom in Telugu language spoken areas, to tie to the waist of cradle-baby-girls and toddler-baby-girls, with a banian-leaf shaped silver-leaf to hide its genitals from the view of elders.

Dynastic Successions in India take place quite openly, though some pretensions are made of first admitting the Princes and Princesses into the Companies as Junior Levels, and make them to work two or three years to gain a first hand experience of ground level working of their Empire. To make this siggu biLLa more meaningful, some Company Patriarchs make their Princes and Princesses to acquire prestigious Business School Degrees from High Profile Institutions and Business Schools like ISB, or foreign degrees from High Profile Degree Merchants like Harvard, Cambridge, Oxford, Yale. Everything proceeds swiftly, to facilitate anointment and coronation of the Princes and Princesses, and to make the crowning ceremonies as legitimate-looking as possible.

Consequently, there are very very few Corporates in India, which do not have dynastic bosses. This is particularly true, even where Professionals are appointed as Chair persons, CEOs or CFOs. They will have to function only as puppets, and should get ready to resign / step down, when strings are pulled by dynastic bosses. This moribund / morient decay continues, in spite of lofty speeches delivered by dynastic bosses, as a part of their Public Relations Exercises.

INDIAN POLITICS

The umbrageousness of the Corporate Governance in India is not different from the umbrageous Country Governance in India. When Mr. Manmohan Singh was made Prime Minister of India for two terms, at least some innocent persons expected that there will be a true professional governance of the country, and there will be little dynastic interference. What is the outcome of the ten year rule of Mr. Manmohan Singh, with his acquiescence to the incursions and intrusions from the Congress President, Vice President, and their coteries? When accusations of corruption in scams such as Telecom Scam, CoalMines Scam, swarmed Mr. Singh, he tried to save himself by referring to ERRORS OF JUDGEMENT, compulsions of coalition Governments, etc. During the tenure of Mr. Singh, decisions which were supposed to be taken on COLLECTIVE DECISIONS, ON THE BASIS OF RECOMMENDATIONS OF EXPERT COMMITTEES AFTER DUE STUDIES, everything was stage-managed to appear as though procedures were meticulously followed, on paper.

As can be seen from the Wikipedia information above, Tatas , while five years back choosing and inducting Mr. Mistry, as successor of Shri Ratan Tata, seem to have taken into account his Zorashtrian faith, and the marital relationship of his sister to Shri Noel Tata of Tata Clan. It is not clear, whether Mr. Mistry conducted himself as an Independent Professional Manager, or as a puppet Manager. Had he conducted himself as a 100% Professional, with its concomitant ethics, probably, he might have been sacked in no time. Instead, he ruled the Company nearly five years, and that long tenure gives an impression that he might have acted only as a symbolic de jurie Head, while the strings remained in the hands of Tata Emperors. Today, probably because as things have gone wrong with some of the businesses of the Group in India and Overseas, when the need for taking up responsibility for decisions arose, the axe seem to have fallen on Mr. Mistry.

Anyway, this blog or this blogpost is not about Mr. Ratan Tata, or the Tata Empire, or Mr. Vijay Mallya or his Brewery Empires. Tatas and Mallyas are only the TIPS of the ICEBERGS in global Business Oceans. Even 10,000 pages will not be enough to discuss the Global Corporate Governance or the Indian Corporate Governance. My remaining active life of about 5/6 years will not be sufficient to discuss. But, there is nothing wrong in trying. To continue. सशेष. ఇంకా ఉంది.

763 Mr. Pinak Ranjan Chakravarty, Former Secretary in MEA and Former Indian Ambassador to Thailand, is right when he said that UK is corrupt.

This is in continuation of our blog post Nos. 675 dated 26th Feb. 2016, followed by blog-posts, 688 and 691. Click for 675 . Click for 688 . Click for 691 , forecasting that it is not easy to bring back Mr. Vijay Mallya, back to India. Foremost reason for such negative forecast is, the type of country U.K. is. We should not forget the colonial past of U.K. We should not forget the slave trade history of England. We should not overlook that U.K. is running some Tax Havens such as Jersey , Isle of Man (United Kingdom) , British Overseas Territories , Bermuda, British Virgin Islands, Cayman Islands. Most of the global colonies having been lost, U.K.'s Economy should have perished long back.

Today, U.K. is prospering by using funds received through its Tax havens. Giving azylum to economic offenders becomes corollory to governing a tax haven country. Consequently, it will be foolish for Indians to expect that U.K. will extend full co-operation in deporting / extraditing Mr. Vijay Mallya. At every stage, U.K. will quote some flimsy internal domestic rule or law or court decision to dodge deporting / extraditing resourceful influential economic offenders.

ON 10th May 2016, when Mr. David Cameron, the Prime Minister of U.K. was overheard saying to queen that Nigeria and Afghanistan were the most corrupt countries in the world and that they will be attending a major anti-corruption Conference hosted by U.K. Mr. Cameron was reported to have been found on camera saying:--

"... We had a very successful cabinet meeting this morning to talk about our anti-corruption summit, we’ve got the Nigerians… actually we’ve got the leaders of some fantastically corrupt countries coming to Britain. ..." "...Nigeria and Afghanistan, possibly the two most corrupt countries in the world. ..."

When I read this News report in Independent.co.uk,click to go to : http://www.independent.co.uk/news/uk/politics/david-cameron-video-corruption-quote-comment-nigeria-afghanistan-queen-a7022586.html , it immediately struck to me that kettle was calling the pot, "black". I felt that England itself was the most corrupt country in the world, engaged in running and thriving on Tax Havens.

This idea was pinching me day and night, during the last 15 days. I was hesitating to write openly what I was thinking about U.K., because the World looks at U.K. with great awe. In Telugu language there is a proverb: "kODaluku buddhi ceppi, atta teDDu nAkinaTlu". Approx. English gist: A mother-in-law, lectured to her daughter-in-law about the importance of hygiene and good manners, while cooking. At that time they were cooking some soup with split lentils. Forgetting what she has taught to her daughter-in-law, the mother-in-law licked the wooden spoon used for mixing the soup. U.K. is like the proverbial mother-in-law, when it talks about corruption and anti-corruption meetings.

For some days I was vigorously googling, to find out if anybody else, other than me, has similar views in his mind, about the hypocracy of U.K.'s moral postures. I could not trace. Then I thought that I must have been a cruel cynic, critic and pessimist, finding faults with Great Nations like England.

My wait has ended. Today, I found a Hindustantimes.com news report which deals with the difficulties involved in getting Mr. Vijay Mallya extradited from U.K. Here is the link: Click here to go to Hindustantimes.com. . This report is dated the 22nd May 2016.

It has published a quote attributed to Mr. Pinak Ranjan Chakravarty, a Former Secretary in MEA (Ministry of External Affairs), Former Indian Ambassador to Thailand, and Former Indian High Commissioner in Bangla Desh.

"... Chakravarty believes UK’s repeated stand against extraditing people to India has something to do with the money they are investing in that country. The UK has become the foremost haven for criminals from the sub-continent, finding protection under a legal framework skewed in favour of asylum-seekers and fugitives. While the UK PM rails against corruption in other countries, its own institutional 'corruption' in embracing foreign criminals and their money smacks of utter opportunism under the camouflage of human rights. ..."

Subject to corrections and deletions. A lot more is to be added. To continue. सशेष. ఇంకా ఉంది.

760 (Part 6/100 of Indian Economic Enigmas): How many Industrial Houses in India are Sand Structures? Let us pray the non-existent God that GMR Empire will not go the Vijay Mallya way.

Here is a Deccanchronicle.com report titled "...gmr group-s founder gm-rao has-a-bad-day..." Click to go to http://www.deccanchronicle.com/business/in-other-news/240516/gmr-group-s-founder-gm-rao-has-a-bad-day.html (print edition tabloid 24.5.2016) . One wishes that it should not happen, but, events in India and the World do not happen or fail to happen, depending on our wishes. Let us WISH that GMR Group will not go the Vijay Mallya way, though there are some similarities and some divergences between the two Groups. Two quotes in this report are worth noting.

"...Rao was not in the best of moods as he was overheard telling one his employees accompanying him to get in touch with a publishing house that had just come out with a not-so-flattering book on the tycoon.

The book labelled him a “business failure” and Rao was furious. “Please write to them immediately and ask them on what basis do they call me a business failure? How can they? Just because we have some debts doesn’t mean that they ignore everything I have done,” he was heard saying. ..."

"...Rao’s next target was the pilot himself. Apparently the landing was not to his liking and Rao, who normally flies in his private jet, decided to have a word with the captain. He was overheard telling the hapless pilot: '...This is not the way to land a plane. I will write to the DGCA about this. ...' One can only wonder how his day went after this.

The GMR Group is said to have debts aggregating Rs. 43,439 crore (Rs. 434 billion).

Question: What are similarities between Mr. Vijay Mallya and GMR ?

Mr. Mallya is owner of IPL Cricket Team Royal Challengers, Bangalore. Shri GMR is owner of Delhi Dare Devils.

Mr. Vijay Mallya promised to donate for making a "gold wall cover" around Lord Venkateswara Temple, Tirupati. Whether this promise is fulfilled or not, Mr. Mallya was said to be donating some kilos of gold to TTD occasionally. Shri GMR is reported to have dedicated his entire shareholding in Infrastructure Sector to Charitable Truts.

Both Mr. Vijay Mallya and Shri GMR own PRIVATE JETS. For that matter, many industrial houses in India and abroad own private jets. Jets are as ESSENTIAL as SUITS AND TIES for BUSINESS PERSONS.

Question: What are dissimilarities between the businesses of Mr. Vijay Mallya and Shri GMR?

Ans: Unless we get complete details of the assets purchased by Mr. Vijay Mallya using moneys sent from India through normal banking channels, and the assets purchased by him using money laundering services, it is difficult to get any clear picture.

As far as GMR Group is concerned, their main investments seem to be in infrastructure sector, in projects such as airport-building, power generation, hotels and resorts. They do not have any investments in breweries. In all fairness to GMR Empire, we must say that while LIQUOR MAKING BUSINESS IS RISK FREE, IT HARMS THE NATION. It is not so with Infrastructure Building. Hence, we should be thankful to the GMR Empire that they have not spread their wings into breweries.

Question: Will it not be safer that Liquor making and selling remains in the hands of Indian Industrialists, rather than their falling into the hands of foreign Companies like Cobra Wines! When liquor making and marketing goes into the clutches of foreign Companies, they may force the entire Nation to compulsorily drink wine instead of water!

Ans: Though your apprehension is prima facie reasonable, as far as the poor man on the Road is concerned, it will not really make any difference. In Telugu language, there is a proverb: "yE rAyi aitE nEmi tala pagula koTTukOTAniki" (approx. English: If our intention is to break our heads, whichever be the stone, it makes little difference.) Granite, marble, Feldspar, everything will be fine. We can break our heads either with Italian Marbles or with Jodhpur Marbles.

TENDENCY OF INDIAN BANKS TO CONCEAL THINGS TILL THE LAST MOMENT, AND THE INDIFFERENCE OF RBI

Here also, banks have a tendency not to make public, details of defaults made by business empires, unless and until things go to the extremely worst state.

Right now it will not be prudent to arrive at hasty conclusions about GMR Group or any other Group in India or abroad.

90% of Indian Industrial Houses whether traditional or modern- i.e. promoted by 1st generation entrepreneurs, are not sky-scrapers. They are SAND-SCRAPPERS i.e. built with sand dunes. When our great sand sculpture artist of Puri Shri Sudarsan Patnaik makes sand structures on the banks of Bay of Bengal, we know pretty well that they are just made of sand. Whereas, in case of our industrial houses (both Indian and non-Indian), such pre-knowledge or prior-awareness is not possible. This is because our Chartered Accountant Firms which audit our industrial houses, are not Chitra Guptas who always remain loyal to Lord Yama instead of the Creatures. Our Chartered Accountant Firms are more loyal to their paymasters i.e. the promoters and the de-facto guys (need not necessarily be owners!) who drive our industrial empires, and they may not bother even to know that stake holders (small share holders, employees, creditors, suppliers, banks and Mutual Funds, Trusts, et al) exist. Recall what the overseas audit house and its Indian Organ had done in the audit of Satyam Computers.

Top-to-bottom Managers of our Indian Public Sector Banks may have a strong desire and will to supervise the disbursement and end-use of the funds they sanction to industrial houses. They may also have a strong urge to follow up their advances to industrial houses with meticulous care. But, they do not have the wherewithal to supervise and follow-up. Our Public Sector Banks neither have the manpower, nor the equipment and systems to monitor the end use. Hence, once a credit limit is granted to a very large business empire, the PSBs will have to remain mute spectators, even if they know that funds are being lavishly frittered away or being diverted. Then, every year, or every two years the Banks have to renew / review the credit limits which is done in a routine manner, by increasing the loan amount to take care of the old loan plus interest. It will be sufficient for the industrial borrowers to show some highly-overvalued, apparently-though-not-really tangible immovable properties as security, and sign all the loan documents on dotted lines, affixing the Company seal. For that work, the Company's CFO and Company Secretary will help. What for are they?

In case of Private Sector Banks, things appear to be more hazy. The top bosses of the Private Banks and the top bosses of the Industrial Houses, may be personal friends, distant relations, mates in Clubs and Pubs. They may even be sharing same film stars or girls. All the industrial loans and large business loans made by Private Sector Banks have not really been tested (are not being tested) for their liquidation. Truth will come out only when a forced sale takes place.

It is not possible in one blog post, to examine the entire evolution and rot in the Indian Banking, Insurance and Finance Sectors. We may need a thousand blog posts.

There will also no point in blaming only the Vijay Mallya or the GMR Empire or some other Industrial House. All the Business Houses and Industrial Houses in India need deeper probes, about their Financial Management, using the services of dedicate teams of Audit and Inspection (not from the existing Tribe of Auditors). Thousand Justice Lodhas will be necessary to cleanse the mess.

To temporarily close this blog post, let us wish, and pray the NON-EXISTING GOD, that GMR Infrastructure Empire will not go in the same route, trajectory and way as the Vijay Mallya Empire.

Incomplete. Subject to thorough future revision depending upon availability of evidence.

744 Film producers, distributors, directors do not spend private money when they shot in Morocco! It is public money they are wasting.

Gautamiputra SAtakarNi, under production, with Shri Balakrishna as Hero, is a Historical film. Time of the happenings of the historical events may be sometime between 2nd Century B.C. to 2nd Century A.D. Gautamiputra SAtakarNi was a SAtavAhana Emperor. For sometime, his Empire is believed to have spread upto Ganga River, Magadha Kingdom, and PATaliputra -the former Capital of Maurya Emperor Ashoka. Satakarni might have expanded his Empire to satisfy his Imperial Greed, by invading several kingdoms in Central India. In the process, he might have initiated and participated in several battles and wars across the length and breadth of India.

What is there for Telugu people to take pride in it? Besides, filming any historical narrative, at least as far as Telugu film distributors, producers, directors and heros are concerned, involves murdering the story to the best of their abilities, to satisfy the egoes and marketing superstitions of all of them.

Another important thing, which not only Telugu people, or Indians, but every human on this Earth should ponder over seriously is the amounts wasted on shootings at distant places. We can understand if a French film, relating to French colonialisation of Gambia or Senegal is shot in Morocco, or an English film relating to slave trade is shot in Cameroon or Sierra Leone or Morocco.

What Gautami putra SAtakarNi has got to do with Morocco, or North West Africa? Why they are spending public moneys to satisfy their own fancies, frills, and idiosyncracies? It is reported in Media that they have already spent Rs. 80 million for making travel and other arrangements to take up the shooting in Morocco! It is also reported that several tons of battle-war related material has been despatched to Morocco! It has also been reported that they are going to hire 800 persons in Morocco to take part in the shooting. It appears that Media has been told that the locals of Morocco have faces and bodies similar to Indians!

There are hundreds of places in India which can serve as battle grounds in film shootings. Besides, shooting in Indian locations will generate some employment to local people.

Question: When the producers, distributors are spending their private money why are you worried?

Ans: Nobody will invest personal monies in risky ventures. Producers and distributors may borrow monies from Banks. And if the Banks refuse to lend directly for film production, loans taken for productive purposes in the name of other Companies will be diverted to film production. It is how, billions of Rupees have been diverted from Banks into risky, speculative, unproductive ventures like Film production, Cricket betting, Real Estate, and what not. To give a live example, when Mr. Vijay Mallya borrowed thousands of crore from NINETEEN BANKS, and went on a spending spree, everybody praised him as a dynamic hero. Was it the private money or the public money did he spend?

Criminal Mafias and Money Launderers have become active partners in rotating funds in the film industry. No wonder, we find that directors are beaten up demanding refund of fees. Harder days we are yet to see. Hence it will be childish to say that producers, directors, distributors invest their private moneys. ONLY gullible FOOLS will believe it. This CRAZE for shooting in foreign locations has exacerbated after 1991, when Government of India started getting foreign exchange reserves by inviting foreign investments, distributing thousands of acres to foreign MNCs @ Rs. 1 per acre, liberalising or neglecting labor laws and making Indian laborers slaves of foreign MNCs. On the one side, India's Companies are going into foreign hands, and on the other hand, foreign exchange hard currencies mobilised with great difficulty are being squandered in lavish expenditure abroad such as film shootings, import of luxury cars etc. Our Kings-of-frog rulers believe that foreign investors will never withdraw their investments! Not correct! Someday, foreign investments will be taken back, and fresh investments may not come.

Subject to corrections and deletions. To continue. सशेष. ఇంకా ఉంది.

728 Mr. David Cameron, and Queen Elizabeth II, should be ashamed of retaining objects obtained by coercion and under duress !!!

It is a regretable thing that Solicitor General Shri Ranjit kumar, in response to the PIL on bringing back the Kohinoor Diamond back to India, seems to have erred in presenting his arguments. It is good that the CJI T.S. Thakur has given an opportunity to the SG and the GOI to present a revised Affidavit. According to DeccanChronicle.Com(click-to-goto) dated 19th Apr. 2016, the Centre has informed the Supreme Court that it cannot stake a claim to the Kohinoor diamond, as it was not stolen or forcibly taken.

Another incorrect information submitted by Mr. Ranjit Kumar on the basis of the information reported to have been given to him by the Ministry of Culture, that the diamond was taken from a mine in Masulipatnam on the River Godavari. Even a 10 year boy will tell that the diamond was taken from a mine in "kOLLuru" on River Krishna, in Guntur District. The name of Masulipatnam town might have appeared because during early British Rule, kOLLuru Area of Guntur District was a part of Masulipatnam District (Krishna District), and a separate Guntur Dist. was not formed.

The submission by Shri Ranjit Kumar that the diamond was not stolen or obtained by force, is also not correct. The diamond was in fact obtained by Lord Dalhousie, the then Governor General of India, UNDER DURESS, BY USING HIS UNDUE INFLUENCE ON THE THEN RULER OF PUNJAB, DULEEP SINGH.

According to Indian-origin British MP Keith Vaz, the longest serving MP of Asian origin in England, Duleep Singh was ordered to personally "gift" the Kohinoor to the Queen of England.

Link to read more: thenewsminute.com (to go to)

After the subjugation of Punjab in the Second Sikh War in 1849, Duleep Singh, the last Sikh ruler of the Punjab, was ordered by then Governor General of India, Lord Dalhousie, to give the Kohinoor to the Queen personally.

According a report in The Independent, the viceroy, in a letter to a friend in 1849, wrote: "My motive was simply this: That it was more for the honour of the Queen that the Koh-i-Noor should be surrendered directly from the hand of the conquered prince into the hands of the sovereign who was his conqueror, than it should be presented to her as a gift."

The lackadaisical approach (उदासीन दमलोला ढंग) of the Central Government appears to be from its unwillingness to displease U.K. The Central Government may be begging British Government for several favors, such as foreign investments, support for Membership in Security Council, help to Indian leaders and industrialists to purchase prime Real Estate in Central London, maintain confidentiality in case of illegal moneys stashed by Indians in British Tax Havens, not to expeditiously extradite Vijay Mallya, when Indian Government makes an Extradition request, delay/refuse on some flimsy grounds or other, ... it can be any favor. But even if the Indian Government keeps mum on Kohinoor Diamond, there is no certainty that British Government will co-operate elsewhere.

In Telugu language, there is a proverb: "cinta caccinA pulupu cAvanaTlu". Approx. English: "Like the Tamarind Tree which does not lose its sour taste, even after its death." Though Britain has lost most of its colonies, England has not learnt any lessons, and it has not lost its colonial character.

We can see what Mr. David Cameron, the British Prime Minister is reported to have said on this subject:

"...If you say yes to one you suddenly find the British Museum would be empty. ..." "...I think I'm afraid to say, to disappoint all your viewers, it's going to have to stay put. ..." "...The exact provenance of the diamond is unclear. ..."

ybrao-a-donkey's humble comments. वैबीराव एक गधे के विनम्र राय . వైబీరావ్ గాడిద వినమ్ర వాణి. You have every right to differ with me. I respect your right. आपको मेरे मत से भिन्न राय रखने के संपूर्ण हक है। मै उस अधिकार को परिपूर्ण रूप से गौरव देता हुँ. మీకు, మీ భిన్నమైన అభిప్రాయాన్ని కలిగిఉండే సంపూర్ణ హక్కు ఉంది. దానిని ఎంతో నేను గౌరవిస్తాను. However, pl. examine this donkey's views also. परन्तु एस गधे के दृष्टिकोण को भी अनुशीलन कीजिये. కానీ ఈ గాడిద దృష్టికోణాన్ని కూడ ఓర చూపుతో కంటజూడుమీ, క్రీగంట జూడమీ.

Did Mr. David Cameron mean to say, that the British Museum is full of OBJECTS OBTAINED FROM COLONIES UNDER DURESS OR COERCION ? Did the East India Company and the British Government fill their Treasuries and Museums with plundered objects?

Actually, Mr. Cameron ought to have voluntarily apologised for the past historical atrocities and oppressions, and offered the Indian Government to take back their legitimate objects. This would have salvaged the ethical state of the 21st Century England, whatever be their past.

ELEVATED ROLE OF ATTORNEY GENERALS AND SOLICITOR GENERALS IN INDIA

Attorney Generals and Solicitor Generals are not expected to function like "postmen" or "emails", i.e. just carrying the messages from Govt. to Court, and from Court to the Government. Attorney Generals and Solicitor Generals are not Government Clerks. They have to guide the Government properly, about long term consequences of taking any particular position. If the Govt. still persists with their instructions, then the Attorney Generals , Solicitor Generals will not have any alternatives except to comply with Govt's instructions.

Subject to corrections and deletions. To continue. सशेष. ఇంకా ఉంది.

691 Part 3 of the Episode of Mr. Vijay Mallya

Mr. Vijay Mallya, the Indian Industrialist, who has borrowed from 17 Indian Banks, and is said to have become a Willful-defaulter to the extent of Rs. 90 billion ($1.3 billion approx.), has been issued summons by the Supreme Court of India. He has tweeted that he has not fled away from India. He does not want a Media Trial. His reported remark about the Editor of "Times Now" Channel is worth noting: "...The editor of Times Now needs to be in prison clothes and eat prison food for libel, deceit, slander and absolutely sensational lies. ..." — Vijay Mallya (@TheVijayMallya) March 10, 2016.

LINKS TO PREVIOUS POSTS ON THE SAME SUBJECT

Post No. 443 of March 2015. Highlighted, banks' lethargy in recovering overdues from Mr. Vijay Mallya.

According to the News Reports, bulk of the wealth owned by Mr. Vijay Mallya, has been stashed abroad. Only paltry amounts and properties, are available in India, for attachment towards satisfaction of his debts.

If Mr. Mallya is so sincere, so honest, so indignant, so much of a lover of Indian Judicial System and Indian Law Courts,

1. he can repatriate to India, all his funds stashed abroad. He can also make available for attachment all his foreign assets to Supreme Court of India.

2. he can attend every hearing of Debt Recovery Tribunals, High Courts and Supreme Court, without making frequent representations of his "non-availability" on medical grounds, or business grounds.

3. he should not enter into any secret arrangements with foreign Corporates and industrialists to fraudulantly transfer his assets, so as to escape attachment by Indian Courts.

4. Airlines Business is a highly risky business, this everybody knows. As a seasoned business-person, Mr. Vijay Mallya knows this, and he also knows that his liquor empire is highly profitable, and less risky. Thus, with a high risk Airline, and low risk liquor business (apart from other low risk businesses such as Fertilisers, Real Estate, Resorts, etc.), Mr. Mallya has sufficient hedging, and cushion, to overcome unforeseen losses. But, by entering into gambling sort of businesses such as purchasing Cricket Teams, Formula Racing, he seems to have squandered the public funds with the help of 17 Banks, which failed in their Credit Delivery and Supervision duties.

5. Anyway, here is a great opportunity for Mr. Mallya to resurrect the whole situation, which is not beyond redemption. The only thing is, he should be willing to co-operate with the judiciary, and the Banks. By doing so, he will be proving to the world a) the honesty of Indian Business persons b) the Respectability and Trust which Indian Judiciary enjoys c) the Business-Judgement-abilities (Credit Appraisal, Project Appraisal etc.) of the Indian Banks.

6. If he acts with 100% honesty, though he loses all his assets, he will have his honor in tact. In Indian History, his name gets written with Gold Letters, as an Exemplary Business Person. He can live with peace of mind in India, rather than living like a fugitive and a thief in England and dying there unsung. In reality, if he chooses to settle in England, after evading all his loans in India, though the Foreign Governments, Foreign Banks may respect him externally and superficially, he will, still, be regarded as a thief, notwithstanding Media Trials.

7. Leaving aside the politics of Congress, BJP and other parties in Indian Parliament and outside, Indian intellectuals are watching with bated breath, what Mr. Mallya is going to do.

8. This will also set a trend and role-model, to other Defaulting Indian Industrialists.

9. If Mr. Mallya avoids Indian Banks and Indian Judiciary, and goes further to fish into England and its London Den of Global Financial-Offenders, one wishes that Govt. of India, State Governments, Indian Courts, Indian Banks, INdian Share Markets and Bond Markets, whether they learn long term lessons from their errors of judgement, omissions and commissions, or not, for sometime to come, must exercise great caution in taking up fresh Corporate Loan proposals.

Indian Banks will have to reveal the details of other large Indian Corporate Defaulters and deal with them sternly. Else, Other Defaulters may take Mr. Mallya as their Leader. They may even form an Association of Indian Industrialists being hounded by Indian Government, and may seek a REFUGEE Status in Europe, North America, Australia and New Zealand. Foreign Governments may support such nefarious Associations, for the fun of teasing the Indian Government, and also extract some concessions under each head of G-8/G-20, WTO, IMF, World Bank, BIS etc.

Every Corporate Applicant is going to be viewed with suspicion and X-Rayed about his-her personal integrity, by Indian Banks, till their old wounds heal. Of course, Time though is not the best healer, it is a definitely, a sort of a healer.

ybrao-a-donkey's humble comments. वैबीराव एक गधे के विनम्र राय . వైబీరావ్ గాడిద వినమ్ర వాణి. You have every right to differ with me. I respect your right. आपको मेरे मत से भिन्न राय रखने के संपूर्ण हक है। मै उस अधिकार को परिपूर्ण रूप से गौरव देता हुँ. మీకు, మీ భిన్నమైన అభిప్రాయాన్ని కలిగిఉండే సంపూర్ణ హక్కు ఉంది. దానిని ఎంతో నేను గౌరవిస్తాను. However, pl. examine this donkey's views also. परन्तु एस गधे के दृष्टिकोण को भी अनुशीलन कीजिये. కానీ ఈ గాడిద దృష్టికోణాన్ని కూడ ఓర చూపుతో కంటజూడుమీ, క్రీగంట జూడమీ.

Media Trials are well known for their overzealousness. Anchors, and Moderators of Discussions, often behave as though are HIgh Court and Supreme Court Judges, or even above them.

The Anchors and Moderators of Discussions may be doing it, under pressure from their Corporate bosses, who themselves are not above suspicion. The Anchors and Moderators, are after all, just paid servants and slaves. The Circus Masters are the owners of the Media Channels. Anchor-Moderator Lions and Elephants will get their marching orders and pink slips, if they do not dance on the stools provided by the Ring Masters.

TAILPIECE धूमकेतु తోక చుక్క

In Telugu language, there are two proverbs.

1. "kukka tOka vankara." Approx. English: "A dog's tail (always remains) is twisted". Anecdote: A person wanted to straighten his dog's tail, tied it with bamboo slices and ropes, just as fractured legs and hands are bound with bandages. After some months, hoping that the dog's tail might have straightened, he opened it cutting the ropes and removing the bamboo. The dog's tail went back to its spiral shape. Indian (Why Indian? even Global) Industrialists, are like irreparable dog tails.

2. "akka ASE kAni bAva batakaDu". Approx. English: akka = elder sister. bAva = elder sister's husband. A bAva became sick. He was being taken to numerous doctors and hospitals by "akka", and her younger brother. After several visits of several Cities and Towns, and several hospitals, the younger brother might have been exhausted and become wiery. When villagers inquired from him, about his bAva's health , the youth said : "akka ASE kAni bAva batakaDu". Gist: Sister hopes, but Brother-in-law will not survive.

We, Indians, are like "akkAs". We hope, hope and hope. But our industrialists, business tycoons, Banks, Courts, Lawyers, of course Media which is also run by Industrialists, all let us down. This happened in the past, is happening now, and is going to happen in future.

Subject to substantial Revision, additions and deletions. To continue and revise this, with more proof.. सशेष. సశేషం.

688 Part 2 of Vijay Mallya's Disappearance, भाग २ विजय माल्या के अंतर्धान, భాగం ౨, విజయ్ మాల్యా అంతర్ధానం

On 26th Feb. 2016, in our post No. 675 Link: Click to go to Post No. 675 at this blog , we have discussed the likely impact on the country if Mr. Vijay Mallya leaves India and settles down in London, as planned by him and- we also observed that we have to live and wait another 40 years (till Mr. Mallya reaches an age of 100 years) to see the progress of 1. Recovery of Indian Banks' Loans 2. His conviction for economic offenses, till all the suits and cases against him and his Companies reach their logical conclusion. Today, the Attorney General of India is reported to have told the Supreme Court that Mr. Mallya has already left India to London, one week back. It means he left India somewhere around 3rd March 2016, surreptitiously.

Our Finance Ministry, Our HOme Ministry, Our Ministry of External Affairs, may quote so many Statutes, Notifications, Rules, Regulations, Guidelines, Restrictions, for not impounding the passport of Mr. Mallya before he left the country for "Good", and for not alerting the Airports and Airlines, at least in the last moment.

All our Governments both the Union Government, and the State Governments, their bureaucrats have some sort of "Nelson's Eye" to open when they want to see, and to close when they do not want to see. When Ms. Jashoda Ben applied for her Passport, they could trace out some Rule which required her to submit a Declaration from her Spouse ! How swiftly they could reject her application and stick to their outdated rules ! When it comes to Mr. Vijay Mallya, why they could not wake up early, and safeguard the interest of this country. Probably because, they are Grade I Patriots and Nationalists.

Mr. Vijay Mallya may also be a distinguished Grade I Patriot and Nationalist.

We can also recollect how our own Indian Officials helped Warren Anderson, the American Chairman of Union Carbide, which was involved in a grave poisonous gas leak tragedy killing and dis-abilitating thousands of innocent people at Bhopal (popularly called Bhopal Gas Disaster), to leave India coolly and comfortably. This, as per reports, was done on the oral orders of Mr. Rajiv Gandhi, Prime Minister at that time, P.V. Narasimha Rao, Home Minister at that time, Arjun Singh, Chief Minister of Madhya Pradesh at that time.

Like Lalith Modi of the IPL Fame, to Mr. Vijay Mallya also, UK may give a firm shelter, confer on him UK Passport, Knighthood at appropriate times. It may not co-operate with India, to extradite him for facing Courts. Our Union Cabinet Ministers may get telephonic hotline pressures from Mr. David Cameron or Barack Obama, and others, not to press for his extradition.

We do not know how many billions / millions Mr. Mallya has stashed with British Banks and, British Tax Havens such as Caveman Islands, Virgin Islands.

Even if British Government is willing co-operate, Mr. Mallya can get an advance scent of his possible extradition, and he may hop on to some other obliging country, which will not only accept him, but also confer on him Citizenship.

Some MP may raise the issue tomorrow in Lok Sabha / Rajya Sabha, and it may lead to some BLAME ONE ANOTHER SESSIONS.

There is a website called http://mallyainparliament.in. Here is the link to it, for those who wish to have a look at it: Click to go to MallyainParliament.in.. At the website, you can find some of Dr. Mallya's Tweets, Re-tweets.

There is also a poll at mallyainparliament.in, about BJP's performance.

Poll

Has the BJP government lived up to your expectations in its first year?
Succeeded (71) 66.00%
Failed (29) 27.00%
Somewhat succeeded (8) 7.00%

According to mallyainparliament.in, he is an independent M.P. elected first time in 2002, and second time in 2010. More details about him, from the same website:

During his first term in Parliament, Dr Mallya served on the Parliamentary committees on Civil Aviation, Defence and Industry.

As an MP, he travelled extensively through all the districts of Karnataka in his political capacity, meeting the District Commissioners and senior leaders to understand the special nature of the people's problems. His Member of Parliament Local Area Development Scheme (MPLADS) funds were used extensively across the state to build roads, schools, community centres and public infrastructure. See full break up of MP FUNDS here.

He is noted for his successful bidding in auction of items that are considered of great cultural value to India. In the year 2004, he placed the winning bid for the famous sword of Tipu Sultan and brought it back to India. Therefater, he also purchased several other effects belonging to Tipu Sultan including a cannon, weapons and personal items. In 2009, he bid for the belongings of Mahatma Gandhi.

He has also established the Mallya Hospital in Bangalore and has funded the MallyaAditi International School, a private school in Bangalore.

Educational Qualification: Doctor of Philosophy in Business Administration (Honoris Causa), Southern California University, Irvine, USA B.Com. (Hons.) from St. Xaviers College, Calcutta, Schooling La Martinere, Calcutta.

Now, our only hope can be on Supreme Court. If Supreme Court can act as swiftly, as firmly, as intelligently, as it has acted in case of Sahara India's Subrata Roy, we can hope that some of the properties can be auctioned, and the dues of the suffering Indian Banks, may be at least partly satisfied. In the meantime, the CEOs of the 17 Banks which financed the Companies of Mr. Vijay Mallya have to spend some sleepless nights.

We shall try to predict, what Mr. Mallya is going to do in the near future !

Some Great Supreme Court Senior Advocate like Mr. Ramjeth Malani or Mr. Venugopal or some Subrahmanyam may come up representing Mr. Mallya, praying for exemption from his personal appearance in court.

Mr. Mallya may claim that he suffers from High B.P., Sugar (diabetes), kidney problems, heart ailments, arthritic pains. He may not claim erectile dysfunction.

Mr. Mallya may seek Anticipatory Bail, and an assurance from GOI, and State Governments, that he will not be arrested after disembarking from his own/Chartered Aircraft.

Subject to substantial Revision, additions and deletions. To continue and revise this, with more proof.. सशेष. సశేషం.

675 We should see how NDA is going to handle Mr. Vijay Mallya श्रीमान विजय माल्या को ऎन डि ऎ सर्कार कैसा हेंडिल करता, देखने के लिये हम और चालीस साल जीना శ్రీ విజయ మాల్యా గారిని రాబోయే ప్రభుత్వాలు ఎలా హ్యాండిల్ చేస్తాయో చూడటానికి మనం ఇంకా ౪౦ ఏళ్ళు బతకాలి

Who is dES bhakta (patriot)? Who is dES bharta (Husband of the country, may not be rAshTrapati)? Who is dEs drOhi? (Traitor of the country who may be charged with sedition)? Ms. Smriti Irani spent a lot of time trying to make a mountain out of a mole-hill, in Lok Sabha showing her histrionics to the MPs of her own Party to their great delight, to the MPs of other Parties to their great irritation, to millions of INdians watching TV Screens who were AWESTRUCK . Our beloved Prime Minister has also sent a Twitter message "satyamEva jayatE" in appreciation of her efforts. Okay, the Delhi Police and the Patiala Courts may decide that Kanhaiah Kumar is a dEs drOhi, because he failed to alert himself that his Students' Union Meeting was being hyjacked by the Agents of the ISI and the Pak motivated-Terrorists. We shall also concede that Mr. Modi, Ms. Irani, Mr. Rajmohan Singh, Mr. Venkaiah Naidu, have all saved this wretched country, and the JNU. We shall also concede that Mr. Rahul Gandhi and Mr. Sitaram Yechury are all also traitors of this Nation.

SOMETHING PERSONAL OF YBRAO-A-DONKEY

My father is 90 years approx. He knows neither English nor Hindi, in which Ms. Irani spoke, on both the days. But he was greatly delighted to see and hear her speaking in Parliament, with all her postures. After listening to the speech, on the first day he asked me in a tone of great appreciation, about how I felt. Shortsightedly, I immediately reacted saying in may natural cynical manner that she was just showing her histrionic talent. My father was deeply disappointed. I realised my error. With very aged persons, we should not tell unpleasant things. There is a Sanskrit saying: "satyam brUyAt, priyam brUyat, na brUyAt satyam apriyam". I forgot this. The second day after Ms. Irani's speech, he had again asked me for my opinion, forgetting his disappointment of the previous day, when I didn't agree with him. On the second day, I agreed with him and made him feel happy. This is one way of correcting ourselves.

Now, here is a news which says that Mr. Vijay Mallya, the Alcohol Emperor of India, has not only sold out his "Spiritual Empire (Empire of Spirits?)"*** to some Foreign Giant by name DIAGEO for several billions of Rupees, and now settled for a princely SEPARATION FEE of Rs. 5.12 billion ! While he has already shifted to U.K. with his family sometime back, now he says:

***According to our Hon. Prime Minister, India exports Spirituality to the World. We can give a Top Exporter Award to Mr. Vijay Mallya.

"...HAVING RECENTLY TURNED 60, I HAVE DECIDED TO SPEND MORE TIME IN ENGLAND, CLOSER TO MY CHILDREN ..."

What the Public and Private Sector Banks of India will do with the NPAs (Non Performing Assets) of the Mallya's Companies, and the Companies for which Mr. Mallya personally stood as guarantor? In Telugu language there is a proverb: "తూర్పు తిరిగి దణ్ణం పెట్టాలి. English: Should turn to the East, and salute to the Sun God."

If Mr. Vijaya Mallya is to be classified, under which class, the NDA Government will classify him? dEs bhakta (patriot) and a savior of a Nation called India? dEs bharta (Husband and bearer of the Nation)? dEs drOhi? (anti-National)? dEsOddhAraka (Uplifter of the Nation)? India can introduce some new award categories, above Bharat Ratna. Actually, Awards given by Govt. of India, may not have any value to Mr. Mallya. The British Government, French Government will shower on him the Top-Awards of their countries.

Let us set aside, why Mr. Mallya could not pay his debts to Indian Public Sector Banks, may be a "Willful Defaulter" or a "Circumstantial Defaulter", may be a personal failure or may be a systemic failure (failure of the Indian Economic System or Indian Banking System or the Indian Judicial System or the Indian Administrative System, whatever Systemic Failure it may be. To that extent, it is an internal matter of India, which will be decided by the concerned Banks. RBI, SEBI, CBI if entrusted with, Enforcement Directorate, Top-to-bottom Courts over a period of 40 years till Mr. Mallya reaches his 100 years, where Great Great Great Great Lawyers like Nariman, Ram Jeth Malany, et al , et al will argue recovering their fee of some millions per hour, till the Magistrates and Judges feel sleepy in all the Sessions. Then there will be some Letters seeking Mr. Mallya's Extradition to India.

We shall, then, have some Sessions in Lok Sabha and Rajya Sabha, where Mr. Arun Jaitley, Mr. Manmohan Singh, Mr. Sitaram Yechury, Mr. Jyothiradithya Sindhia, Mr. Mallikarjun Khadge, probably Ms. Aruna Irani also, Ms. Sushma Swaraj also, show their histrionic talents and oratorial skills.

It has already been two years, since Mr. Narendra Modi promised to bring back to India all the wealth stashed abroad, and credit to the accounts of Indians @ Rs. 1.5 million each.

Now, Mr. Mallya has made it very clear, where his heart lies. It is in England, the Great Britain, the United Kingdom. He does not any longer want to live in this damned country called India.

Everybody knows that Europe, North America, Australia, Singapore, Hong Kong, Shanghai, outshine one another in inviting Economic Offenders to buy properties, invest in their countries. Great Global Statesmen (Salesmen) Mr. Barack Obama, David Cameroon, Mr. Francois Hollande may preach sermons. But when it comes to practice, they all have the same run-of-the-Mill behaviors. Their legal systems also shield the Economic Offenders who take azylum /asile /asilo under their shade.

We have to wait how Mr. Narendra Modi, Mr. Arun Jaitley, Ms. Sonia Gandhi, Mr. Sitaram Yechury and Mr. Suravaram Sudhakar Reddy are going to handle him, while they use their throats and fists to (s)mash one another. We have to see How Ms. Mayawati, Ms. Mamata Banerjee, Ms. Jayalalitaa are going to react. Above all of this, any of our politicians such as Mr. Rahul Gandhi, may also in future, get a shouk (fashionable need) to settle down in London a la the politicians of our neighborhood Indonesia, Philippines, Maldives (Male), Malaysia, Thailand.

How many of us are going to live another 40 years, with bated breaths retenant son souffle, disminiur respiracion !

Readers may recall the Statement of Sushma Swaraj claiming to help fugitive Lalit Modi on humanitarian grounds to travel from London to Portugal. Indian Parliament wasted several valuable days of its session in mutual Reprisals, and finally everybody cooled their heels, eating biriyani in Subsidised Parliament Canteen.

Can we say "The bird flew off searching for cashews elsewhere, leaving its mess in India. Indian Banks nay Depositors of Indian Banks and the Indian Public have to clean the mess now.

Why Mr. Vijay Mallya could not be arrested, on the lines of what was done to Sahara Emperor? What legal processes are stopping it?

TAIL PIECE धूमकेतु తోకచుక్క

As far as I can recollect, Mr. Vijay Mallya has promised to cover all the walls of the Sanctum Sanctorum of Lord Venkateswara Rao Temple, Tirumala with gold sheets. Will he, now do it, from England?

నాకు గుర్తు ఉన్నంత వరకు, శ్రీ విజయ్ మాల్యా గారు, శ్రీ తిరుమల తిరుపతి దేవస్థానం వారి శ్రీ వేంకటేశ్వర మందిరం యొక్క గోడలను బంగారపు రేకులతో తాపడం చేయిస్తానని వాగ్దానం చేసినట్లు గుర్తు. ఇపుడు శ్రీ మాల్యా గారు ఆ మొక్కును లండన్ నుండి చెల్లించుకుంటారా ? ఇంకా ౪౦ ఏళ్ళు మనలో బ్రతికే వాళ్ళకు మాత్రమే అది తెలుస్తుంది.

Subject to substantial Revision, additions and deletions. To continue and revise this, with more proof.. सशेष. సశేషం.