Why Major Defaulter Company names siphoning off thousands of Crores should not be listed?

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This petition had 16 supporters

The Issue

Several thousands of crores being siphoned off and bankers/financial institutions/tax payers left high and dry is a recent phenomenon known to all informed Indians. It needs a careful analysis India's Central Bank RBI is against disclosing company names while Apex Court SC wishes to declare the same. Key issues are summarised below :

  • RBI feels it will affect the economy in case of disclosures to people
  • Can an economy show numbers and be a bubble economy which can burst anytime?
  • Is a bubble economy good for India?
  • Current Govt and our Honourable PM was overwhelming voted for economic growth which is needed for one and all in India
  • Business risk mitigation is an old principle mastered by thousands of managers in India
  • Why are there glaring case studies of companies like Kingfisher, Sahara and so many others(realty sector with central bank defaulter tags like Unitech is a notable one) ?
  • In case of Kingfisher, Mr Mallya does not even bother to come to India even after ED summons having escaped to UK
  • Why should we allow our wealth be siphoned off and then Govt needs to massage the macro economic balance sheet and punish common man, poor farmers and the true entrepreneur? Is it fair?
  • Well known corporates like TATA, Birla, Reliance, Bharti, Godrej and so many others do not have such a situation due to strong corporate governance practices.
  • India wants to 'Stand Up' and matured risks are needed for an enterprise but not greedy flambuoyant businessmen who care little about public money and escape
  • Why Pvt banks are not affected but our Public Sector Banks? Reason is they are forced to lend even if a business case is not viable
  • Why alert buttons cannot be pushed when co performance dash boards show very adverse continued results?

Sir, the country needs explanations on such situations and an immediate correction is needed.

avatar of the starter
Subho BhattacharyaPetition Startersubho1201@gmail.com

The Decision Makers

Ministry of Finance and Corporate Affairs
Ministry of Finance and Corporate Affairs
Supreme Court
Supreme Court
Indian Bankers Association
Indian Bankers Association
webmaster@iba.org.in

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