VG Siddhartha better than V Mallya ?
Do you think VG Siddhartha is better than Vijay Mallya; or for that matter better than any of the fugitives who have millions and billions of debt on their back. Well, think again !
We as Indians are way too emotional when it comes to right or wrong doings. We have set our own parameters to judge people. And we judge them as hard as we can. Only to realize once in a while, that there is no point in judging when we don't know sh*t about what is going on in their lives. This is where media steps in. Yes, media in its most dreary form, who is recording and scripting endlessly through a channel, to put out any sh*tty story that it can come across. Guess what, media needs content. It needs a tale in whatever way it comes and it will create a storyline to publish it; or as classic media does - show it in every possible medium they can. No matter how twisted it may be, how unworthy of display it may be, and no matter how cruel it can be. In the judgement of that, be my guest.
To give you a little background of what we are discussing here, let me put up a few things in perspective for you.
Around 2010, Lalit Modi fled India with a alleged fraud of INR 125 crore. He was booked in a case of bypassing procedures, rigging bids in auctions and siphoning of funds. And being humiliated, harassed for his wrong doing till date.
March 2016, Vijay Mallya deserted India with a debt of INR 9000 crore. He was booked in a case of financial fraud and money laundering. And being humiliated, harassed for his wrong doing till date.
Around 2016, Jatin Mehta, owner of Winsome Diamonds left India with a debt of more than INR 6500 crore. He was booked in a case of misappropriation and siphoning of funds through various entities including a few based in UAE. And being humiliated, harassed for his wrong doing till date. (The Logical Indian, ET)
Mid 2017, Chetan and Nitin Sandesara, directors of Sterling Biotech Ltd absconded India with a debt of more than INR 5000 crore. They were booked in a case of criminal conspiracy, cheating, forgery and corruption among other charges. And being humiliated, harassed for their wrong doing till date. (NDTV, First Post)
January 2018, Nirav Modi and business partner Mehul Chowksi flee India with a debt of more than INR 11000 crore. They were booked in a case of criminal conspiracy, criminal breach of trust, cheating and dishonesty including delivery of property, corruption, money laundering, fraud, embezzlement and breach of contract. And both being humiliated, harassed for their wrong doing till date. (Wikipedia)
These are some of the high profile cases besides various other financial offenders who have taken an escape route to their irregularities. These people collectively owe approximately INR 40000 crore to banks and other financial institutions across India. (Live Mint)
July 2019, VG Siddhartha jumped in a river and died with a debt of more than INR 6500 crore. In his parting letter, he had mentioned that his team, auditors and senior partners are unaware of his transactions. So there could be more to this story than just the prima facie INR 6500 crore. He was being questioned rigorously by tax officials and pressured by private lenders, as also revealed through his last words coming from a letter supposedly left behind by him. Everyone has sympathy with him and praises him for everything he did till date.
And just four days later, after the tragic death of VG Siddhartha, Supreme Court agreed to hear the plea of V Mallya to not attach his personal properties but only of Kingfisher Airlines, that went bankrupt. They should have waited till he jumped in Thames. Well, he would have surely chosen Thames instead of coming back to India.
And that day media would have covered that too. Sure, his debt would have been highlighted, but only under the clout of portraying his life journey from a house captain in school to leading India's largest spirit company. Not forgetting to mention his extravagant lifestyle and that he even used to pray every day and conducted the entire 42-day Sabarimala fast every year. Boom ! From a zero to hero in a matter of few death-days.
So, is Siddhartha better off, taking a route that will never let anyone humiliate him or harass him in public than running away from homeland and face a brutal media scanner for doing business (with or without wrong intentions, that is yet to be figured out) ?
Or shouldn't the expansion of the business been under the scanner here. Or shouldn't the extending line of credit in the hope of profitability been under the scanner here. Or shouldn't the decision of the board to trying to increase the size of the pie been under the scanner here.
I am not sure. Maybe Siddhartha alone had to be under the scanner here. Maybe questioning the powers of one man alone should be under the scanner here. Maybe having too much powers to be under the scanner here. There should be more than one, held responsible for every pond, lake or ocean's bleeding gums. "Sharks can turn rogue anytime. Not every fish will eat the dolphins."
But what you and me see, is way smaller than the actual picture or as vague as it can be from the truth. Ofcourse, a few economists, intellectuals and close associates know the story, but it is not coming out in its purest form to give you a clear view. The context becomes someone's business before it reaches you. And it reaches you in its muddiest form. Not to mention, you will judge and every angle you try to change, the story that reaches you does not.
Its only a conscious effort on anyone's part that can put the correct perspective or the correct context in view.
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