12/14/2018 2:46:13 PM
|written By : Team India Se|
India’s transport minister Nitin Gadkari wants fugitive Indian businessman Vijaya Mallya to be given another chance though the Indian government wants him extradited from Britain to face fraud charges. It is unfair to tag a “one-time loan defaulter Vijay Mallyaji” as a thief, Gadkari said, adding the businessman has a four-decade-long track record of timely debt servicing.
Mallya repaid on time a loan he took from the Maharashtra government-owned entity Sicom 40 years ago, Gadkari recalled, speaking at a business forum in Bombay.
Mallya is wanted in India for alleged bank fraud and money laundering amounted to an estimated Rs 9000 crore (US$1.3 billion). The businessman got into trouble after his Kingfisher Airlines went bust, defaulting on loans from state-owned Indian banks. He is accused of misusing the funds.
Gadkari, however, said businesses have their ups and downs and need help when in trouble.
The minister said, “If (fugitive businessman) Nirav Modi or Vijay Mallyaji has committed fraud, then send them to jail, but whoever comes in distress, and if we label them as fraudster, then our economy will not progress.”
A court in London has already ordered Mallya’s extradition to India. It is now for the British home secretary Sajid Javid to decide whether he should be extradited.