After that experience, Mr Mallya got himself power and near-immunity through a Rajya Sabha seat. He also learnt to manipulate the legal system to his benefit by filing cases in courts and tribunals across India. In May 2012, tax expert Vinod Kothari wrote in Moneylife about a case where commission was paid to one of Mr Mallya’s former wives claiming that she helped the business as a socialite; it was disallowed by the Chandigarh tax tribunal. In another case, money was siphoned from Punjab Breweries, through payment to a clearing and forwarding company which passed on the money as an interest-free personal loan to Vijay Mallya and his wife Samira Mallya (ITA 217 of 2002). 
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
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Thanks.
At Rs 4 lakh crore, bad loans exceed market value of PSU banks.
It started with the Nagarwala case. During the Emergency,Sanjay Gandhi and Yashpal Kapoor used to drive away truck loads of damaged currency marked for destruction by RBI at Nagpur for recycling among their foot soldiers (The Indira Brigade of thugs and worse. "Secular Moslems"?). Comrade Pranab Da Mukherjee Ji was reputed to demand small velvet bags of diamonds for appointing Chairmen of Public Sector Banks. Corruption and crime were institutionalized by Indira Gandhi after she lost the Keshavananada Bharathi Case. The Indira "high command" was created to collect and maintain files of criminal wrong doing of judges, bureaucrats, military officers, police and others who would then be jockeyed into key positions and preferred promotions as they could be controlled and manipulated to implement PANGOLIN policy. Being a criminal was a sine qua non of Government Service under the PANGOLINs. I was there as an SBI Manager at Bellary when Janardhan Poojari's thugs kidnapped and raped the daughter of a Canara Bank Manager because he refused to entertain non Bankable proposals recommended by Khangressis.
Patel bought an enormous number of Boeing aircraft that nobody wanted and Air India's plans and estimates did not warrant for Air India that drowned the Indian Air Passenger market with excess capacity sinking Kingfisher. Air India would have drowned too. But, because it is a Public Sector, it has been kept flying at the cost of India's growing deficit, inflation and other tax payments. Praful Patel then went on to sell Air India's newly acquired Aircraft at far below cost to Etihaad Airlines. He also sold several of Air India's prized and high potential routes and landing rights. The people of India have and are paying far more for the Air India black hole that Sonia's Pawar's Patel made than The King Fisher debt which is merely a part of the whole.
It would be good when superficial Journalists, Bankers, Central Bankers and Politicians refer to Vijay Mallya's Kingfisher, they also refer to the Senior and bigger of the Siamese Twins that has drained the Public coffers. Praful Patel's Air India. (I wonder whether Pawar's Baramati and Mallya had a spat over booze leading to the enormous bill presented to Indian Citizens by Praful Patel ?). As a former Banker, I find the idea of accepting a "Brand" as collateral astounding and I doubt whether even the Crony Capitalist Junk Bond Bankers of the US and UK would be so daring. At whose behest did SBI do so? Chidambaram's?
Meanwhile, even as a reader, you are a citizen of India. How about you sharing your efforts to stop corrurption in India?
thank you
Sucheta
After the HORSE left the country, all the agencies started investigation-C.B.I.,ED,Economic Offence Wing and SFIO. Where were they for so long?
Bank officials are equally responsible for their inaction till Mr.Mallya left the country.
All government officers including bank officers must be made accountable in such cases.
In cases of remaining big defaulters, the strict action is required and they should be prevented from leaving country.
Shanti Patel
Hon.Secretry-Bombay Shareholders Association
So wake up Correct Clean the mess.
Mahesh
IS TASTE N TOAST OF INDIA
WELCOME TO GREAT DEMOCARZY WHERE CEC DOENOT REFORM
LAW MINISTERS TILL DATE HAVE GREAT LAWS OF NO PISSING AND SHITTING.
BUT NOW SHIT IS IN RAJYA SABHA HOW HIGH NEEDS TO GO SEE THE LIST BELOW
B. R. Ambedkarg
Jawaharlal Nehru
Charu Chandra BiswaS
Ashoke Kumar Sen
Lal Bahadur Shastri
Gopal Swarup Pathak
Shanti Bhushan
Hans Raj Khanna
P. Shiv Shankar
Jagannath Kaushal
Ashoke Kumar Sen
P. Shiv Shankar
Dinesh Goswami
P. Singh
Subramanian Swamy
Kotla Vijaya Bhaskara Reddy
Ram Jethmalani
Ramakant Khalap
Thambidurai
Ram Jethmalani
Arun Jaitley
Jana Krishnamurthy
H. R. Bhardwaj
Veerappa Moily
Salman Khurshid
Ashwani Kumar
Kapil Sibal
Ravi Shankar Prasad
D. V. Sadananda Gowda ALL MESSED UP
Next few weeks shd be interesting what happens on this matter by NaMo govt.
can you share the documents against RBI on my e-mail for knowing more of RBI officials details, since I am collecting details of Class IV recruitment scam in RBI where top officials are involved.My e-mail is [email protected]
- Can the bank officials declare their assets and sources of their income to the public?
In the case of Vijay Mallya, the banks were waiting for him to leave the country to file the case to stop him leaving India. All the top officials of the bank are to take responsibility of this lapse.