As of March 2017, it’s been a year the liquor baron Vijay Mallya left the country and till date there is no clue as to how did it all happen. The ex-Member of Parliament, could flee away even after the look out notices were issued to alert the immigration authorities to check and refrain, any move of any person facing a charge, from moving outside the country. We are still lingering with the question as to how could someone who was all in the news for being a “willful defaulter” of a bank loan amount of more than Rs.9000 crores, who has been charged by the CBI, along with money laundering charges before the Enforcement Directorate, could just leave?
On the other hand, looking at the failed attempts by the Government of India, and the non–responsive behavior, teamed with high handedness of the accused has made we the common people believe to once more think “kuch nahi ho sakta“ (that nothing can happen).
Why is that Vijay Mallya has still not been brought back to the country?
Let’s look at this way, when the Banks moved the Supreme Court to hear the application for impounding the passport of Vijay Mallya; the court postponed it to the next day. Look at the irony! The Attorney-General of India, informed the Court, the very next day, that then owner of Kingfisher Airlines had moved out of the country, exactly six days before. But why not before? Yes! There an eyebrow twitches, as it raises a hundred questions on the minds.
Why was the application not heard earlier?
You can blame it on the procedure of law or may be no one thought in this manner till then. Now the question arises is that what was the Government of India doing? Ah! The Government of India in order to make a strong impression on its citizens took steps to solve the issue bilaterally even without making the case foolproof on its end and hence the face-palm! More so, the formal request to U.K. for extradition was turned down upfront, on the ground that the owner of the now defunct Kingfisher Airlines, had entered U.K. on a valid visa and hence shows the clear picture of the premature, indecisive action on the part of the Government.
Is there a conflict between CBI and the Government?
When the CBI knew that Vijay Mallya has absconded, why didn’t it put across the government at that point of time and came to be known only when the application before the Apex Court was moved for impounding his passport? However on the request of the ED, the passport has been revoked.
No buyers for goodwill, trademark or the assets.
Once upon a time when the Kingfisher brand was value was of 4000 crores, is now finding it difficult to find a buyer in repeated auctions by the lenders on the order of the Court – to recover even a meager amount of loan given – which includes the Kingfisher mansion in Mumbai, villa in Goa, the Kingfisher jet, the logo of the Airlines, including the trademark “Fly with Good Times” amongst many others.
His attitude
Whereas Mr.Mallya says he has been forced to exile. He has no plans to return to India for the way he has been portrayed by the media. In his interview to the Financial Times, in Mayfair London, he expresses his interest to settle with the banks at a rate which they can afford to re-pay and shows his flamboyant nature by adding that “by taking my passport or arresting they are not getting any money”.
Today’s Scenario
Today, the Kingfisher Airlines is defunct as it went underground from 2012 for not paying salaries to its employees, a warrant of arrest has been issued against the runaway billionaire by the Debt Recovery Tribunal, the Karnataka High Court had ordered for the winding up of the United Breweries Holding Ltd, the company which was inherited by Vijay Mallya, from his father Vittal Mallya and the rest is history unfolding in the most surprising manner. The audacity of Mr. Mallya can be seen through his tweets wherein he has rubbished all news by the media.
In other words, Vijay Mallya has become the centre of attention for setting a precedent in all the cases involving him ranging from Debt Recovery Tribunals to Central Bureau of Investigation to Enforcement Directorate, under the Finance Ministry of India. A regular watch is kept on every step taken by the banks, the government agencies and the Government itself. As many other such “willful defaulters” are waiting to know their fate by the judgments pronounced in these cases revolving around Vijay Mallya, who still lives lavishly despite all the litigations & obligations.
Indian Government before the next upcoming election will have to take some major actions concerning Vijay Mallya as it would be certainly a topic of debate across the country and by the opposition. The Government is aware of this and so is the common man. These are testing times for the Government and to understand how well our diplomatic relations are with the foreign countries. As, interestingly, the Force India, co- owner has no stopping to his extravaganza lifestyle with a permanent lifetime residence in United Kingdom.
Let’s not loose hope
The judiciary may take time to connect all loose errands but let’s not lose hope over it all so soon. As time and again no evidence has been found to directly charge Mallya for his moves, it’s difficult but not impossible. However, a lot has changed in terms of law with this new Government and a ray of hope is visible in the darks clouds. The next hearing is pending before the Supreme Court on 30th of this month where the accused is asked to be present along with his passport. Let’s wait and watch.
