Austin 3:!6 Posted March 7, 2018 Share Posted March 7, 2018 (edited) Media is going on and on about this. Pardon my ignorance but why exactly we cant get these money defaulters back in India and face trial? I mean its not that they are hiding somewhere we dont know. Vijay Mallya is living a lavish life in London...attending champions trophy cricket matches etc. Nirav Modi's whereabouts are also well known. Why cant police simply arrests them and hand it to Indian authorities? Like a suo moto case or something. Indian govt have enough proof of their forgery...just arrest them and handover. Is there any law that stops that? If that is the case...what a joke of a law it is So if tomorrow I take a huge loan from a bank and leave the country, I am safe? What the hell is this? Terrorists hiding anywhere are captured by interpole and handover to the country they commited crime. Why cant the law is same for money launderers?? The world is so weird sometimes. Sent from my GT-I9505 using Tapatalk Edited March 7, 2018 by Austin 3:!6 Link to comment Share on other sites More sharing options...
velu Posted March 7, 2018 Share Posted March 7, 2018 Quote Winsome Diamonds promoter, wife take up St Kitts citizenship Jatin Mehta, promoter of Winsome Diamonds and Jewellery Ltd, and his wife have given up Indian citizenship and become citizens of the Federation of St Kitts and Nevis, investigators probing the company’s alleged bank loan default of Rs 6,800 crore, told The Indian Express. St Kitts and Nevis is a dual-island Caribbean nation with which India does not have an extradition treaty and which is known to be a tax haven. http://indianexpress.com/article/india/india-news-india/winsome-diamonds-promoter-wife-take-up-st-kitts-citizenship-2829696/ Turning_track 1 Link to comment Share on other sites More sharing options...
Singh bling Posted March 7, 2018 Share Posted March 7, 2018 43 minutes ago, Austin 3:!6 said: Media is going on and on about this. Pardon my ignorance but why exactly we cant get these money defaulters back in India and face trial? I mean its not that they are hiding somewhere we dont know. Vijay Mallya is living a lavish life in London...attending champions trophy cricket matches etc. Nirav Modi's whereabouts are also well known. Why cant police simply arrests them and hand it to Indian authorities? Like a suo moto case or something. Indian govt have enough proof of their forgery...just arrest them and handover. Is there any law that stops that? If that is the case...what a joke of a law it is So if tomorrow I take a huge loan from a bank and leave the country, I am safe? What the hell is this? Terrorists hiding anywhere are captured by interpole and handover to the country they commited crime. Why cant the law is same for money launderers?? The world is so weird sometimes. Sent from my GT-I9505 using Tapatalk Who will give you unsecured loan without political backing?? Link to comment Share on other sites More sharing options...
Straight Drive Posted March 10, 2018 Share Posted March 10, 2018 The risk management of banking system is crap. Moreover there is lot of influence of government to hand over loans to influential people. The collateral they take is nothing considering the loan amount. Apart from this the people working in banks fall to the lure of easy money and make the thousands of crores fraud possible. The politicians, the loan takers and the bank employees need to change the way they work. otherwise there will be no end to these frauds. It is laughable that the person with 8000 crores of debt has villas abroad, live a luxurious lifestyle, own world renowned cars etc even though the money they actually will have left after paying the debt will not even buy them a 10 by 10 sq. feet room, might not be able to travel in a cab or enjoy dining in a nice family restaurant. However, these same very poor people are living like millionaires due to non refunded loans which are actually public money. The capital infusion should stop. Let the banks face the brunt of the fraud loans they have given without doing due checks. Why keep using public or tax payers money to keep filling the hole dug by these fraud people. tweaker 1 Link to comment Share on other sites More sharing options...
Singh bling Posted March 10, 2018 Share Posted March 10, 2018 1 hour ago, Straight Drive said: The risk management of banking system is crap. Moreover there is lot of influence of government to hand over loans to influential people. The collateral they take is nothing considering the loan amount. Apart from this the people working in banks fall to the lure of easy money and make the thousands of crores fraud possible. The politicians, the loan takers and the bank employees need to change the way they work. otherwise there will be no end to these frauds. It is laughable that the person with 8000 crores of debt has villas abroad, live a luxurious lifestyle, own world renowned cars etc even though the money they actually will have left after paying the debt will not even buy them a 10 by 10 sq. feet room, might not be able to travel in a cab or enjoy dining in a nice family restaurant. However, these same very poor people are living like millionaires due to non refunded loans which are actually public money. The capital infusion should stop. Let the banks face the brunt of the fraud loans they have given without doing due checks. Why keep using public or tax payers money to keep filling the hole dug by these fraud people. Ever heard of venture Capitalism theory of two cows Venture Capitalism — You have two cows. You sell three of them to your publicly-listed company, using letters of credit opened by your brother-in-law at the bank. You execute a debt/equity swap with an associated general offer so you can get all four cows back, with a tax exemption for five cows. The milk rights of the six cows are transferred (via an intermediary) to a Cayman Island Company secretly owned by a majority shareholder (you) who sells the rights to all seven cows back to your publicly-listed company. Your annual report says the company now owns eight cows with an option to buy one more. Straight Drive 1 Link to comment Share on other sites More sharing options...
Clarke Posted March 10, 2018 Share Posted March 10, 2018 My guess is too many skeletons in the closet for all major political parties. They pretend to do all the extradition nonsense which drags on forever. Truth be told, if a govt was honest and wanted to send shivers down the spine of corrupt businessmen, it could drag Mallya or Nimo to the Indian courts by hook or by crook. The Israelis tracked & captured Nazi war criminals across the world, United States got Osama, the Russians simply poison their double agents, we prefer pushing files around. It is actually an opportunity for Modi sarkar to send out the message about how serious it is with respect to financial fraud and gain a boost for 2019 by initiating some special ops on these guys, but I don't see any of it happening. Turning_track and Straight Drive 2 Link to comment Share on other sites More sharing options...
Straight Drive Posted March 10, 2018 Share Posted March 10, 2018 (edited) 1 hour ago, Clarke said: My guess is too many skeletons in the closet for all major political parties. They pretend to do all the extradition nonsense which drags on forever. Truth be told, if a govt was honest and wanted to send shivers down the spine of corrupt businessmen, it could drag Mallya or Nimo to the Indian courts by hook or by crook. The Israelis tracked & captured Nazi war criminals across the world, United States got Osama, the Russians simply poison their double agents, we prefer pushing files around. It is actually an opportunity for Modi sarkar to send out the message about how serious it is with respect to financial fraud and gain a boost for 2019 by initiating some special ops on these guys, but I don't see any of it happening. Yes, the extradition is a drama because these people give them a hint to run away. If they were serious of nabbing them then these defaulters would not even have got chance to run away. They just prolong the cases. Most of those arrested are out on bail. Satyams Raju si free , so are many others even though they were arrested. Why don't they block the passport of all such guys in the first instance itself. Certainly the people in know give them a tip so that they can fly away easily. The monies received by selling the properties of these guys , their cars, stocks, and other assets like gold etc is nowhere near the amount they have in debt. In some cases the shortfall will still be in 1000's of crores, with which they and their families easily live the life of millionaires. And the government does stupidity of infusing funds for all major frauds. If only these funds were used for public services. Edited March 10, 2018 by Straight Drive Link to comment Share on other sites More sharing options...
Turning_track Posted March 10, 2018 Share Posted March 10, 2018 Murky business of all those involved will come out in the open, so why take pre emptive action. Just let them wander anywhere they want & play the blame game rather than taking responsibility. Before Mallya & Nirav Modi, a certain Lalit Modi too vanished away conducting IPL 3 & since then has never come back. More than 20+ charges pressed against him including FEMA act. Were the authorities not aware that when serious questions were asked during the ongoing IPL itself, Modi would slip away at some point of time having all powerful connections? Extradition is simply a pain, Portugal enquires(even on humanitarian grounds) so many times about Abu Salem as if he is their loving son-in-law. Link to comment Share on other sites More sharing options...
Straight Drive Posted March 12, 2018 Share Posted March 12, 2018 Mallya Goa Villa was reportedly sold for 72cr. Shares worth approx 4300 Cr (UB) as per current CMP. - Heineken proposed to buy it from ED. News is that UBHL has said it has Assets of 12K cr to repay the loan. So the Mallya loan is likely to be recovered completely along with interest that was due. It is a very good progress. Link to comment Share on other sites More sharing options...
Shy9 Posted March 13, 2018 Share Posted March 13, 2018 Government policy to protect rich people.First they inspires them to leave country than They collect their passport and told (fake) we will get their property They only tell but NOT DOING NOTHING.you will never seen BULLET TRAIN in next 52 years in India. Link to comment Share on other sites More sharing options...
Shy9 Posted March 13, 2018 Share Posted March 13, 2018 13 hours ago, Straight Drive said: Mallya Goa Villa was reportedly sold for 72cr. Shares worth approx 4300 Cr (UB) as per current CMP. - Heineken proposed to buy it from ED. News is that UBHL has said it has Assets of 12K cr to repay the loan. So the Mallya loan is likely to be recovered completely along with interest that was due. It is a very good progress. You read it or have proof any of that particular account belongs to Malya? Link to comment Share on other sites More sharing options...
Shy9 Posted March 13, 2018 Share Posted March 13, 2018 Interpol not doing nothing forget about VIJAY M or Choksi let me know why LALIT MODI and DAOOD ABRAHIM Interpol not brings to India even if the order was issue long time ago? Link to comment Share on other sites More sharing options...
Shy9 Posted March 13, 2018 Share Posted March 13, 2018 (edited) Two years ago PARUL UNIVERSITY'S trusty was arrested for molesting 21 years old Girls in college campus in Gujarat.he was surrender himself as people demand to arrest him. A day before he surrender himself, he contact same girl and offer her 3000 rupees per half seconds to spends night with her, police has the tape of conversation plus Mr jayesh Patel, the trustee has history of rapping 12 women under the age of 16 He is Abajopati.millionaire.he was in custody for 71 days but now release with case file closed.can you believed how much money he paid to Gujarat police to close file.? Money can buy anything.no wonder why criminal born in India.Probably someone of that girls brother or father might kill Jayesh to take revenge, that is how criminal born in the world. Edited March 13, 2018 by Shy9 Link to comment Share on other sites More sharing options...
Straight Drive Posted March 13, 2018 Share Posted March 13, 2018 7 hours ago, Shy9 said: You read it or have proof any of that particular account belongs to Malya? I did not understand what you meant there. Link to comment Share on other sites More sharing options...
Shy9 Posted March 14, 2018 Share Posted March 14, 2018 On 3/12/2018 at 10:30 PM, Straight Drive said: Mallya Goa Villa was reportedly sold for 72cr. Shares worth approx 4300 Cr (UB) as per current CMP. - Heineken proposed to buy it from ED. News is that UBHL has said it has Assets of 12K cr to repay the loan. So the Mallya loan is likely to be recovered completely along with interest that was due. It is a very good progress. Progress on paper which is fake so people like you happy Link to comment Share on other sites More sharing options...
Straight Drive Posted March 14, 2018 Share Posted March 14, 2018 Villa is sold , so money from the sell is realized. The stocks are now held by ED, so it is just a matter of selling. The possession is already there. Selling the stocks are more easier than selling a property. Link to comment Share on other sites More sharing options...
Mariyam Posted March 15, 2018 Share Posted March 15, 2018 On 3/13/2018 at 12:33 PM, Shy9 said: Interpol not doing nothing forget about VIJAY M or Choksi let me know why LALIT MODI and DAOOD ABRAHIM Interpol not brings to India even if the order was issue long time ago? The ED has itself to blame for Interpol not issuing a red corner notice against Lalit Modi. https://www.ndtv.com/india-news/from-interpol-records-how-indias-weakly-argued-case-helped-lalit-modi-1675290 Link to comment Share on other sites More sharing options...
Straight Drive Posted March 29, 2019 Share Posted March 29, 2019 Nirav Modi was arrested and kept in jail in UK for around a week. Reports coming that his bail has been declined and is will be in jail for about 6 more weeks. Link to comment Share on other sites More sharing options...
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