The business icon Vijay Mallya saw his name go low, when he met with a financial crisis that cannot be solved even with his resources. Mallya’s business ‘Kingfisher’ owes more than 9,000 crore to various banks. The government has not been able to catch hold of him since he flew to the United Kingdom making it impossible for the Indian government to make a move that would be within the constitutional rules. In a twitter post that was posted by him recently, he compared himself to a football that is being kicked around by two teams-the NDA and UDA. He says that even the media has been propagating news that was not in his favor and raising false images about him. Mallya fled the country on March 2nd to escape from going behind bars and is still residing in the United Kingdom.
Arun Jaitley said that the legislation would make changes to take action against these kind of people. There has also been economic fraudsters who have left the country owing to the same reasons as faced by Vijay Mallya. Jaitley said that such cases should not be put at the end of the pile and instead a law will be passed restricting them from leaving the country. Jaitley also said that the law would take hold of all the assets of the accused till the amount is paid back. Vijay Mallya’s fraud case is probably one of the biggest ever as the amount his business entity owes to various banks is more than a common man can imagine. Mallya said that he was shocked at the allegations made by the CBI. According to him the CBI is making false allegations and added that they do not know the truth of this case as they have no knowledge about business and economy.
Even if Mallya is playing good with words, his actions have already put him in a trap. Inability to pay back the amounts to the banks will probably send him behind bars. Accusations against him are only getting stronger and the government is taking stronger action as the time goes.