Time to look for a safe deposit box
June 05, 2018 11:37
A gentleman with a name eerily close to the prime minister's has been
making news. Companies associated with him borrowed billions from a bank
and did not repay; while the bank is in trouble with authorities, its
customer flits from city to city abroad and continues to live in luxury.
He is not the only one living it up on loans from government banks. There is another, once famous for throwing lavish parties on a luxury yacht in the Mediterranean, who lives comfortably in a country cottage in England while his Indian creditors try without success to get Britain to extradite him.
If their examples are any guide, borrowing big sums from Indian banks and escaping abroad to enjoy life is excellent business; it may attract more seekers for good times. Read the full column here.
He is not the only one living it up on loans from government banks. There is another, once famous for throwing lavish parties on a luxury yacht in the Mediterranean, who lives comfortably in a country cottage in England while his Indian creditors try without success to get Britain to extradite him.
If their examples are any guide, borrowing big sums from Indian banks and escaping abroad to enjoy life is excellent business; it may attract more seekers for good times. Read the full column here.
TOP STORIES
© 2024 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Feedback - About us - Terms of use - Grievances