Letter Published in The Hindu India on 9Mar 16,
Tribunal hurdleThe move by the Bengaluru Bench of the Debt Recovery Tribunal to set the ball rolling in connection with recovering crores of rupees borrowed by the Mallya-owned Kingfisher Airlines Limited should have happened long ago (“Tribunal halts $75 m payment to Mallya”, March 8). When the salaried class applies for a bank loan, the paper work and guarantees needed even for a small amount are enough to drive the applicant up the wall. How did banks lend to the group without collateral security?
Tribunal hurdleThe move by the Bengaluru Bench of the Debt Recovery Tribunal to set the ball rolling in connection with recovering crores of rupees borrowed by the Mallya-owned Kingfisher Airlines Limited should have happened long ago (“Tribunal halts $75 m payment to Mallya”, March 8). When the salaried class applies for a bank loan, the paper work and guarantees needed even for a small amount are enough to drive the applicant up the wall. How did banks lend to the group without collateral security?
K. Ragavan,
Bengaluru
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