oppn parties Right Time, Good Time or Time Over for Mallya?

News Snippets

  • Rape-accused AAP MLA from Punjab, Harmeet Singh Pathanmajra, escaped after gunshots were fired when the police came to arrest him in Karnal in Haryana
  • Government has lifted the ban on producing ethanol from molasses
  • Delhi riot case: Delhi HC denies bail to Umar Kahlid, Sharjeel Imam and eight others
  • PM Modi says that the use of indecent language by the Congress against his dead mother is an insult to all women
  • Supreme Court says if the court can clear all pending bills, it might as well step into the governor's shoes while TN government asks it to set timelines for the governor
  • Indrani Mukherjea's duaghter Vidhie has claimed that her statements to the police and the CBI were 'forged and fabricated' to implicate her parents
  • BRS supremo K Chandrasekhar Rao has expelled his daughter K Kavitha from the party for anti-party activities
  • PM Modi said that the world trusts India with semiconductor future
  • FM Nirmala Sitharaman says the economy is set to become transparent once next-generation GST reforms are unleashed
  • Markets turn negative on Tuesday: Sensex sheds 207 points to 80158 and Nifty lost 45 points to close at 24580
  • After Dream 11's withdrawal (due to ban on online gaming companies), BCCI has invited bids for Team India's lead sponsor
  • Hockey - Asia Cup: India to play South Korea in the Super-4
  • PM Modi confers with Chinese Premier Xi and Russian President Putin on the sidelines of the SCO
  • US Prez Trump calls trade with India a 'one-sided disaster'
  • Supreme Court asks why minority institutions are left out of the ambit of RTE, will re-examine its 2014 ruling
Commerce minister Piyush Goyal hoepful of trade deal with the US by November
oppn parties
Right Time, Good Time or Time Over for Mallya?

By Sunil Garodia
First publised on 2016-03-14 18:19:12

About the Author

Sunil Garodia Editor-in-Chief of indiacommentary.com. Current Affairs analyst and political commentator.
Vijay Mallya is reported to have said that he was “forced to flee” India and that the time is not “right” for him to return. Did someone put a gun to his head and ask him to leave the country? Or did he get inside information from his many connections in the corridors of authority that his arrest was imminent? Being a lawmaker, Mallya should be aware that running away from legal problems is never the solution and the “right” time is the time to be decided by courts in India. Tweeting from the comfortable confines of his pad in the suburbs of London when there are so many cases pending against him make him an absconder despite his allusions to the contrary.

It seems Mallya’s IOU’s across the establishment are not working any more. He is complaining of media trial and reminding owners and editors of favours granted in past. That he has not yet publicly said the same for politicians means that he is playing for time and hoping that his many political friends will get him out of this mess. Already, two lightweights, Farooq Abdulla and H D Deve Gowda have spoken in his favour. Deve Gowda even tried to give the issue a regional colour by calling him a son of Karnataka despite Mallya claiming that he is an international businessman.

With banks pursuing cases against him with renewed vigour and everyone from the RBI to the government and from SEBI to the Supreme Court training their lenses on willful defaulters, there is no way Mallya can hope to save his assets given as guarantee to banks. Mallya would be best advised to acknowledge that time is up for him. It is reported he will still have something left over after the banks take their dues although that might not be enough to live life king size as he is used to. He should salvage what he can from the ruins. After all, the good times are going to end in any case.