I think there is too much hype about one person.
There are 42000 wilfull defaulters over 1 crore.
Who coined the terms wilful and others.
Some tamil brahmins have coined it to selectively target some.
He can probably get booked on not depositing TDS or PF of employees. These are minor issues not capable of realising 7000 cr. of rupees.
Most corporate houses owning more than one company in different field reserve one company for bleeding . They strip them of their assets. this is no secret.When suits are filed against the borrowers NPA acoounts (especially the status of account being in Recalled debts account, Protested bills account, Stressed Assets account etc.) there are some standard procedures to submit to the recommendations with valid reasons acceptable legally by the court. These reasons are standardised by RBI .Some of the reasons are listed below:
1. Assets are not available. ( All assets are sold out or depleted)
2.Business or manufacturing unit is defunct ( not in operation)
3. Diversion of funds ( Borrower has deliberately diverted the funds for some other personal purpose other than the purpose for wcich loan was given)
4. Wilful default ( borrower has deliberately not repaid the loan despite having sufficient funds)
5........................ etc.... list is only illustrative.
Therefore the statement made in the post that " Some tamil brahmins have coined it to selectively target some."
shows not only his ignorance in this area but also his skill of his attitude "Jack of all trades".
Some foolish odd ball may get caught. That does not prove anything.It is the Banks that offered loans and not the Government.
It all happened not overnight.
He is facing trouble now.
As I mentioned in my earlier post a person wanted in 17 cases and who was on the run evading arrest, was recently arrested and extradited to India after 27 years and is currently awaiting trial in CBI custody.
These are all facts.
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