The King of Good Times

The King of Good Times

There is a Hindi song from the movie Heer -Ranjha 'Yeh Duniya Ye Mehfil Mere Kaam Ki Nahin' which means that 'I have nothing to do with this world and the people here' strangely this line gives different inspiration to different people in the same situation. The indebted farmers commits suicide leaving this world and all its miseries while the industrialists left the country to live luxurious life in another part of the world when unable to pay their debt mocking and laughing the pathetic system. 

The 'King of Good Times' Vijay Kingfisher Mallya is the latest in the list who left India after unable to pay bank dues of around Rs 7800 crore. His airline company is also defaulter for not paying salary of its employees. These employees are feeling stranded in this situation while the chairman remains busy in IPL and calendar launch. When State Bank of India announced Vijay Mallya as willful defaulter and freeze the payment of around Rs 500 crores he received after selling his share in UB Group to a European country fled away fearing arrest after Enforcement Directorate's notice. 

Vijay Mallya is not the only one who hasn't paid bank dues but there are many more like him. Shockingly public sector banks who send goons at your doorstep for non payment of loan amount has written off Rs 114000 crore of loans of industrialists in last ten years in different parts of the country. These same banks have pressurized farmers for loan payment which forced them to end their lives. One lakh fourteen thousand crore is not a small amount bank officials must have gulped millions to write off these loans. 

The Supreme Court has recently ordered the center government to prepare the list of loan defaulters of Rs 500 crore and more. The court has also questioned how after such big losses these people running there businesses smoothly. This looks like a big bank scam to me and I wouldn't be surprise if there is a political backing in it. Banks should take stricter actions against all billionaire loan defaulters. ED, External Affair Ministry and Finance Ministry must ensure that these criminal offenders not leave the country without payment of dues. These King of Good Times are giving bad time to there employees and to the nation's economy. They must be harshly punished to set an example for others or else there would be more Modis and Mallyas living abroad happily laughing at weak legal system.