1. Loan to Vijay Mallya’s Kingfisher Airlines a write-off only in books: Arun Jaitley

Loan to Vijay Mallya’s Kingfisher Airlines a write-off only in books: Arun Jaitley

Amid the chaos over demonetisation and crackdown over black money, Union Finance Minister Arun Jaitley clarified government's stand for big defaulters like Vijay Mallya whose loans by SBI have been 'written-off'. Speaking in Rajya Sabha on the first day of winter session he said, "Loan to Vijay Mallya's Kingfisher a write-off 'only in books,' but the government is still pursuing his case."

By: | New Delhi | Published: November 16, 2016 6:12 PM
jaitley on vijay mallya, jaitley on kingfisher airlines, jaitley in rajya sabha, winter session first day Before this, on his Facebook account, Jaitley asserted that India can no longer live with black money. (PTI)

Amid the chaos over demonetisation and crackdown over black money, Union Finance Minister Arun Jaitley clarified government’s stand for big defaulters like Vijay Mallya whose loans by SBI have been ‘written-off’. Speaking in Rajya Sabha on the first day of winter session he said, “Loan to Vijay Mallya’s Kingfisher a write-off ‘only in books,’ but the government is still pursuing his case.” He was referring to the loss to banks and economy.

Now defunct Kingfisher Airlines’ owner Vijay Mallya has been accused of syphoning off nearly Rs 6,000 crore and has been declared as a fugitive by the court.

Before this, on his Facebook account, Jaitley asserted that India can no longer live with black money. His Facebook cover said, “India cannot afford to live with black money any longer. Honesty, integrity and ethical conduct are requirements of India’s development,” said Jaitley’s facebook cover photo.”

However, his words could not avert criticism from the opposition and Congress vice president Rahul Gandhi alleged government for not taking action on big defaulters. He said, “The government did not seem to be going after the “big players” in black money like Vijay Mallya and Lalit Modi.” Gandhi also slammed government’s move to phase out high denomination bank notes that triggered some inconvenience for common people.

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