Coffeehouse for desis
Would you like to react to this message? Create an account in a few clicks or log in to continue.


Loan default in India

3 posters

Coffeehouse for desis :: Coffeehouse :: Coffeehouse Main

Go down

Loan default in India Empty Loan default in India

Post 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

Back to top Go down

Loan default in India Empty Re: Loan default in India

Post 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

Back to top Go down

Loan default in India Empty Re: Loan default in India

Post by Marathadi-Saamiyaar Fri Nov 29, 2013 6:36 pm

Rishi wrote:I heard that the banks in India use goondas to get their money back from the poor and the middle class clients.
But they dont go after Mallya n Tejpal n Vadra.

Marathadi-Saamiyaar

Posts : 17675
Join date : 2011-04-30
Age : 110

Back to top Go down

Loan default in India Empty Re: Loan default in India

Post 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.

truthbetold

Posts : 6799
Join date : 2011-06-07

Back to top Go down

Loan default in India Empty Re: Loan default in India

Post by Sponsored content


Sponsored content


Back to top Go down

Back to top

- Similar topics

Coffeehouse for desis :: Coffeehouse :: Coffeehouse Main

 
Permissions in this forum:
You cannot reply to topics in this forum