Letter Published in Gulf News UAE on 17Mar 16,
Pay your employees first to maintain a reputation
This was an interesting read considering the recent topic in the Indian media and print media about the departure of the business tycoon Vijay Mallya (‘Debt-laden Indian tycoon denies he absconded’, Gulf News, March 12). His recent comments on his reputation and blaming the media for only wanting higher ratings is the latest dramatic development in India. As a common man, I am wondering how he acquired so much money from the banks, including major nationalised banks. Without support from top people, he could not have acquired this much in loans. At a certain price point, banks won’t give loan for a common man without asking for guarantors.
He was popularly known as the ‘Liquor Tycoon’ and Kingfisher Airlines chief. Maybe that added advantage is why he got loans. Unfortunately, his strategy and over expansion landed him into this position. Now he has gone with the wind. When he talked about his reputation, why has he not paid salaries to his employees? The government of India should bring him back and the dues to his employees should be paid without further delay. If he would have been an honest international businessman, he could have settled the dues to all and not flown like this. Putting the inconvenience onto employees is not palatable.
From Mr K. Ragavan