Home
Publications
Search
Register
Log inLoan default in India
3 posters
Page 1 of 1
Loan default in India
by Marathadi-Saamiyaar Fri Nov 29, 2013 11:45 am
Is a scourge. This enables the powerful and wealthy to get unsecured huge loans buy property and conveniently default - with no shame, punishment, or denial of future big loans.
If I were a wilful defaulter I would have run away with the money long back," said Patel, sipping black sugarless coffee in a Mumbai hotel overlooking the Arabian Sea. "I'm here, running my factory, paying salaries. I have fallen on bad times but I will turn around Kemrock."
Another case in point: Fingeran getting a 19 cr loan for his "Think" company while Tehelka was showing a 66 cr debt.
http://www.business-standard.com/article/finance/as-bad-loans-mount-india-gets-tough-on-wilful-default-113112900046_1.html
Marathadi-Saamiyaar- Posts : 17675
Join date : 2011-04-30
Age : 110
Re: Loan default in India
by Rishi Fri Nov 29, 2013 2:54 pm
I heard that the banks in India use goondas to get their money back from the poor and the middle class clients.
Rishi- Posts : 5129
Join date : 2011-09-02
Re: Loan default in India
by Marathadi-Saamiyaar Fri Nov 29, 2013 6:36 pm
But they dont go after Mallya n Tejpal n Vadra.Rishi wrote:I heard that the banks in India use goondas to get their money back from the poor and the middle class clients.
Marathadi-Saamiyaar- Posts : 17675
Join date : 2011-04-30
Age : 110
Re: Loan default in India
by truthbetold Sat Nov 30, 2013 7:37 am
Rishi,
Goondas are useful against middle class who may have other property and some sense of shame. Middle class also lacks the ability to fight long wars on street or more importantly in the courts.
However the goonda technique works well only when economy does well and you are dealing with few cases of default. But when large policy types of failures occur force generates backlash and media attention and ultimately political reaction.
Goondas are useful against middle class who may have other property and some sense of shame. Middle class also lacks the ability to fight long wars on street or more importantly in the courts.
However the goonda technique works well only when economy does well and you are dealing with few cases of default. But when large policy types of failures occur force generates backlash and media attention and ultimately political reaction.
truthbetold- Posts : 6799
Join date : 2011-06-07
Similar topics» Congress is India's 'default' program
» How the Japanese Loan for India’s Bullet Train Is a Rip Off
» Greek default a near certainty
» argentina very close to default
» JPMorgan's Dimon on US default: 'You don't want to know'
» How the Japanese Loan for India’s Bullet Train Is a Rip Off
» Greek default a near certainty
» argentina very close to default
» JPMorgan's Dimon on US default: 'You don't want to know'
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|