Media Statement From Dr Mallya

Media statement from Dr Vijay Mallya

The past few few days have witnessed a near hysterical campaign in the media directed against me.

Recognising that the media was indulging in sensationalism, I thought it was best to let the drama play out – never spoil a sensational story with the truth.

However I feel that the time has come to clarify my position in order to avoid this relentless attack on my reputation.


Kingfisher was launched on the basis of a viable business plan vetted by SBI Capital Markets and renowned International aviation consultants, but despite every effort, it was an unfortunate commercial failure caused by macro economic factors and then Government policies. 

The truth about Kingfisher Airlines and its financial stress due to external factors has been reported by State Bank of India to the Reserve Bank of India in their letter dated 31st January 2012.

A consortium of Banks loaned funds to Kingfisher Airlines, a public Company, but these loans were secured by blue chip securities. 

After the closure of the Airline,   since April, 2013, the Banks and their assignees have recovered, in cash, an aggregate of Rs. 1,244 crores from sale of pledged shares. In addition an aggregate of Rs. 600 crores is lying deposited in the Karnataka High Court [since July, 2013]  and a further sum of Rs. 650 crores belonging to United Breweries Holdings has been deposited in the Karnataka High Court since early 2014, being sums realized from the sale proceeds received by United Breweries Holdings from the sale of shares in United Spirits to Diageo Plc in July, 2013.

Thus, the aggregate cash recovery/security available is Rs 2,494 crores.

Legal proceedings apart,  I have been making efforts to reach a one-time settlement with the Banks, and to that end I have had three meetings and follow up calls in the recent past and my efforts will continue – this settlement would be based on additional payments to the Banks.


Personally  I am not a borrower or a judgement defaulter. 

Despite pledging blue chip securities and depositing significant amounts in Court, a successful disinformation campaign has ensured my becoming the poster boy of all Bank NPA’s. 

In fact, Banks have NPA’s of Rs. 11 lakh crores and have borrowers who owe much more than the amount allegedly owed by Kingfisher Airlines to the Banks – a fact never alluded to or widely reported by the media as in my case.

None of these large borrowers [whose debt is significantly more than the KFA debt] have been declared wilful defaulters, but unfortunately, United Breweries Holdings and I have been declared wilful defaulters by certain Banks on technical grounds. I have legally challenged these declarations. 


All the enquiries conducted have failed to find any evidence of misappropriation of funds by Kingfisher Airlines or myself – for the simple reason that the allegations and the innuendo to this effect is plainly false. My Group directly invested over Rs 4000 crores into Kingfisher Airlines itself which investment stands fully impaired – it is not as though it is only the bank debt that has suffered. The banks will recover a substantial part of their debt – my groups loss is permanent. 

Absent any fraud, the concept of corporate limited liability cannot be ignored. 


I have been most pained as being painted as an absconder – I have neither the intention nor any reason to abscond. I have been a non resident for almost 28 years and the Reserve Bank of India has acknowledged this in writing. 

Over the years, I have built successful businesses in India and abroad. I am also honoured to be a member of the Rajya Sabha.

I have been summoned before various investigative agencies and have duly attended and cooperated with each of them, and I will continue to do so.


My statement as to my personal future after quitting Diageo/USL - that I want to spend more time in England closer to my children - has been grossly distorted and misportrayed. I wish to reduce my business commitments gradually and devote more time to my family, and that my resignation from United Spirits was a step in this direction.


The payments from Diageo Plc to myself are towards my personal non compete obligations globally except in the UK. In effect, I have given up my interests in the spirits business globally at considerable cost.

I have always lived an honourable life and the calumny notwithstanding shall continue to do so. As to the allegations in the media, all I can say is I hope some sobriety and sense will prevail and truth not held a hostage to TRP.

Ends

Land Acquisition Bill Row: Needless Ruckus On False Premise

Written By B D Narayankar

Question: Your views on the Opposition including Congress raising hue and cry over land acquisition bill which they term as anti-farmers and anti-poor?

SocraticNarayankar: The whole controversy stems from a pretension - and that has to be shattered. Majority of the people, mainly politicians, due to rhetoric, pretend that farmers are poor.

Are they? Look around in your offices where you work - interact with the attenders, peons and class four employees - you would know they own chunks of land and cultivate. 

They in fact are landlords, not farmers, enjoying tax holiday perpetually. Agriculture is the only business which is not taxed in this country.

Yes, there are poor landless workforce. Will the bill affect them?  I believe it won't. Instead they would get round-the-year employment if a factory is built on their lousy-wage-giving land.

If you flip through history books you will find the rich countries of today were poor and agrarian. They got rich by using land for industry. 

SocraticNarayankar: There are few other questions that need to be answered. Those are - What is the contribution of agriculture in India's GDP; how large is the farming population, whether it is growing or declining?

And most importantly, whether pro-industry cry is necessarily anti-poor and anti-farmers?

Statistics show 53 per cent of Indians are farmers, but not everybody is an agriculturist. Beekeepers, fishery owners, chicken farmers and others make up 31 per cent.

Moreover, there is a decline in farming population, which falls by 2,000 every day.

According to 2011 Census, India had 95.8 million cultivators, less than 8 per cent of the population. 

Further agriculture accounted for only around 15 per cent of India’s GDP in 2013 and the service sector accounted for over 55 per cent. 

Hence, I am of the view that pro-industry is not necessarily anti-poor or anti-farmers. 

Question: What the bill really contains? 

SocraticNarayankar: There should be no concerns raised by farmers because the bill does not do away with the clauses of provisions on consent and social impact assessment. 

These provisions do not apply in key sectors like national security, defence, infrastructure, low-cost housing and industrial corridors, and there should not have been any opposition to these exemptions.

I am of the opinion and firmly believe that the previous UPA government which was hit by various scams, in an attempt to win people's faith, introduced this bill, knowing fully well they will not come to power. 

Ofcourse BJP also supported the bill because, I reiterate, the most powerful illusion in Indian politics is that farmers are poor. 

Interested in romance? Log on to - http://bdnarayankar20.blogspot.in/

Is RSS responsible for undesirable comments made by some leaders?

Written By B D Narayankar

Question: Is RSS really responsible for undesirable comments - like producing more children etc, etc ...?

SocraticNarayankar: Distortions and manipulations come to the fore strongly enough whenever Jana Sangh or BJP is in power.

The Left raised a hue and cry about the minorities being under threat when Jana Sangh had formed coalition government in seven states in 1967.

The same hostility was meted out to Vajpayee government in 1990s.

Narendra Modi's government is facing the same hostility by "secularists" and  media, who are using undesirable events and statements, to create anti-government atmosphere.

So, there is a pattern. Sadly, the media tries to link these developments to RSS, without checking on facts whether their leaders were really responsible for it.

The statements on population given by some leaders raised concerns that RSS is attempting to revert the population policy, which is not true.

Media is ignorant about RSS perspective on women. It is running Rashtra Sevika Samiti, RSS women's wing - which works on empowering women.

Question: Myths about RSS ...

SocraticNarayankar: RSS is a fascist outfit and inspired by Italian fascist Mussolini - that's quite a hilarious myth.

This premise was based on the meeting the Hindu Mahasabha leader Dr B S Moonje’s had with Mussolini. The "secularists", however, ignore the historical and archival records of RSS who had expressed displeasure over Moonje’s approach to imperialism.

They are the spin offs of Italian Marxist Antonio Gramsci and Hitler’s propaganda minister Goebbels. Their mantra - Turn lies into truth by perpetual false propaganda!

Interested in poetry? Log on to: http://bdnarayankar20.blogspot.in/

Teesta Row: Blindfolded "Secularists"

Written By B D Narayankar

Question: What's this Teesta Setalvad arrest controversy all about? Your take on that please.

SocraticNarayankar: The clamour of the self-styled intellectuals and pseudo-secularists that Gujarat police should not arrest Teesta, simply brought their double standards, hypocrisy and deceit, to the fore.

They have turned a sheer case of cheating and embezzlement into a case of affecting human rights and civil liberties. 

I am not surprised that the secularists make an issue of human rights and civil liberties when the accused person belongs to their pack.

They have overlooked the specific allegations against the accused couple which the Gujarat High Court had termed grave. 

The court also said the money in question appeared to have been prima facie misused for personal pleasure and comfort.

What is more Teesta herself has admitted using riot victims' funds for Jewellery, Wine and other personal expenses: 

View Affidavit: http://dharmanext.blogspot.in/2014/03/teesta-setalvad-admits-using-riot.html

Obviously the "secular" pack is appalled that the "secular" couple is being dealt with like any other accused by the courts and the investigating agency.

Question: Do you think Setalvads have been framed by Gujarat police?

SocraticNarayankar: It is laughable. The case against the couple was not started by Gujarat police, but twelve people claiming to be members of Gulberg Cooperative Housing Society - and who are these people? They are Muslims, who alleged misappropriation of funds received as donations by Setalvad and her husband.

Police investigations revealed that out of donations worth Rs 9.7 crore received by the two trusts, 39.5 per cent was misappropriated.

Question: What are other allegations against the so-called secular couple?

SocraticNarayankar: I humbly call upon the so-called intellectuals and secularists to go through these allegations and decide whether the couple are worth defending.

1) Teesta's former colleague Rais Khan has made startling revelations by filing an affidavit before the Nanavati commission... extracts from his first ever TV interview. View Interview: https://www.youtube.com/watch?v=92thZReqqf4

2. Yasmeen Banu Sheikh, Best Bakery Case prime prosecution witness has accused Teesta for forcing her to lie in the Trial court at Mumbai. View: https://www.youtube.com/watch?v=tgcPfZfRULg

3) Teesta Setalvad may face contempt proceedings for approaching the Office of High Commissioner for Human Rights (OHCHR), Geneva despite giving assurances to the Supreme Court. Rais Khan Pathan has written a letter to SIT chief R.K. Raghavan. View Letter: http://www.scribd.com/doc/131393568/Teesta-Setalvad-disobeys-Supreme-Court-may-face-contempt-proceedings

4) Teesta Setalvad's ex-aide Rais Khan exposes Zakia Jafri's lies in a letter to Special Investigation Team (SIT). View Letter: http://www.scribd.com/doc/175914753/zakia-jafri-s-lies-exposed-in-taped-conversation-her-case-may-collapse

Listen to Audio: https://www.youtube.com/watch?v=kqsk5_clpsA

5) Ministry of Corporate Affairs, Government of India is taking legal action against Teesta Setalvad's company Sabrang Communications & Publishing Pvt. Ltd. View Letter: http://www.scribd.com/doc/194200530/Ministry-of-Corporate-Affairs-taking-legal-action-against-Teesta-Setalvad-s-company

For more allegations log on to: http://teesta-setalvad-evidence.blogspot.in/

Also read: http://www.abplive.in/author/virendrakapoor/2015/02/21/article508109.ece/Abuse-of-NGOs-for-personal-gain-and-glory

Note: Feeling romantic? Log on to: http://bdnarayankar20.blogspot.in/

Pakistan Terror Boat: The Unnecessary Media Shout!

Written By B D Narayankar

Question: Was the mysterious Pakistani boat controversy necessary?

SocraticNarayankar: There are occasions where politics should not be played on issues concerning national security. Sadly, the Congress and many opposition parties are making an issue out of the mysterious Pakistani boat matter to score political points over the Union Government.

Their latest ploy is to use a irresponsible remark by a Coast Guard officer to pin down the Narendra Modi regime on the matter. Coast Guard DIG BK Loshali recently boasted that he had ordered to “blow the (Pakistani) boat off”.

It did not matter to them that Loshali was not even a part of the chain of command to issue such orders - and therefore he simply could not have given the directive, which means Loshali should not be taken seriously.

Watch Video: http://indiatoday.intoday.in/video/pakistan-boat-row-coast-guard-dig-bk-loshali-indian-express-video-defence-ministr/1/419677.html

The TRP men should understand what they were indulging in - it is like this: Getting information on cricket from Lionel Messi! - It is nothing messy to understand this, however the TRP men are messy enough to mess around and churn messy things to viewers, who they think are messy enough to mess around, but no the viewers are wise - they treat these news bulletins and TV debates no less than cartoon shows!

Even if, the TRP men please read carefully, Loshali had been authorised to order the blowing off, he or the Coast Guard Chief could not have taken the step without clear instructions from the very top of the ruling political establishment.

Question: Weren't the TRP men irresponsible like the Opposition parties including Congress?

SocraticNarayankar: Oh, absolutely they were, or most of the time are - irresponsible.

Look what was the repercussion. They all played into the hands of Pakistan. The enemy neighbour latched on to it and slammed India for its "devious" ways. Islamabad has been no doubt heartened by the sharp criticism the Indian government has faced from its political rivals.

Shouldn't we not blame even the Defence Minister?

SocraticNarayankar: Parrikar could have made public at least the relevant portions that could have stopped the tongues to wag. I am not demanding he should reveal everything which is bracketed as sensitive information - matters concerning national security.

Parrikar could have also been more forthcoming in educating the people about the incident.

Hours after the incident came to light, Parrikar had promised to release fresh information on the incident, but never happened. This could have been avoided.

It is to be hoped that the Defence Minister will fulfil the repeated promise to release the evidence to vindicate government's stand.

If you like poetry. Log on to: http://bdnarayankar20.blogspot.in/

The Needless Bray Over Secularism

Written By B D Narayankar

Q: Is inclusion of the term secular in Preamble necessary?

SocraticNarayankar: For me, it is wholly unnecessary because the framers of the Indian Constitution had not included the term 'secular' in the Preamble. It was needlessly included by late Prime Minister Indira Gandhi through 42nd amendment in 1976.

India has always been secular - or else Christianity, Zoroastrianism and Islam would not have have been received with open arms and allowed them to practise their religions.

Also, the Preamble already speaks of securing to its citizens the liberty of thought, expression, belief, faith and worship.
So, if you have the liberty of belief, faith and worship, you are a secular state.

So, what the fuss about?

Q: Why the so-called secularists making an issue out of it?

SoctraticNarayankar: Because it will make their survival a bit difficult as they gain political dividends by playing on the sentiments of the people using the podium of secularism.

Secularists - Congress, the Leftists and the Centrists - did the same and doing it till date. They divide Hindus and Muslims under the garb of secularism to create a vote-bank, all in the name of secularism and minority welfare.

Ironically though, they keep on accusing others as communal. The party who cries of hijacking its leaders from its stable, hardly practise what they stood for. They brazenly, without blinking an eyelid, crush the principles of Bapu - Mahatma Gandhi - who dreamt of religious amity and casteless Indian society.

Q: What's your opinion on media stand on this issue?

SocraticNarayankar: Why media goes big when BJP does the same what Congress does?

The media did not go big when the same ad issued by the then I&B Minister Manish Tewari carried a picture of the preamble without the word secular.

This only reflects media's double standards or boasting of pseudo-secuarism!

HUMBLE REQUEST. DON'T MISS AN OPPORTUNITY TO READ MY POEMS AS WELL

http://bdnarayankar20.blogspot.in/

Obama - A Part Of Vatican Agenda

Written By B D Narayankar

Q: What are the reasons for President Obama's statement voicing concern over allegedly growing religious intolerance in India?

#SocraticNarayankar: The Pope's visit to India is still as fresh lingering in my mind. I have not forgotten his words fully endorsing conversions to be a right, in contrast to the bloated expectations of the Indians that he would advise evangelists to stop conversions.

With this statement, Obama has shown himself to be a part of the Vatican's agenda in India. And also shown he is more a Christian figure than statesman.

However, the loud clamour for a central law against conversion has disturbed the Indian missionaries - disturbed because the law will check them from wooing Hindus as part of their demographic project.

In this backdrop, Obama's statement appears to be under the spell of anti-India propaganda by a powerful network of the Christian lobby alleging that minorities face existential challenges.

The US President is pushing the Vatican agenda of stalling the anti-conversion law by pressurising Narendra Modi's government, and this should not only be flayed but opposed as it amounts to encouraging neo-imperialists to intervene in our domestic affairs.

Q: Should India learn religious tolerance and secularism from Obama and European countries?

#SocraticNarayankar: Why should we? Just look at how the US and Europe's approach have been in handling terrorism, which has boiled down to anti-Islamic rhetoric. Moreover, most European countries have officially announced a departure from multi-culturism,  a case in point Italy's culture minister Dario Franceschini terming burqa a ‘mobile prison’ and Switzerland banning construction of minarets.

I don't see Obama lecturing Italy and Swirzerland, and also France which banned the hijab, which compels us to ask again and again why Obama doesn't? In my understanding it is very simple - they are not the nations boasting of Hindus as majority community.

Q: Is there any truth in Obama's statement  that minorities face existential challenges in India.?

#SocraticNarayankar: There must be a diagnosis of disproportionate propaganda and pattern of such incidents. There has been a propaganda against the Modi government, which also was unleashed during Vajpayee's NDA government. There were incidents of a few churches being damaged; incidents of rapes on nuns were cited to claim that a Sangh-influenced government had been “encouraging fringe elements”.

The St. Anne’s Church in Gulbarga was attacked on June 8, 2000 along with another, St. Peter Paul Church, in Bengaluru, and literature threatening Christians was distributed. But investigation revealed the real culprits and intentions. It was the handiwork of Deendar Anjuman, an outfit backed by Pakistan’s ISI.

Such incidents are an eye-opener.

HUMBLE REQUEST. DON'T MISS AN OPPORTUNITY TO READ MY POEMS AS WELL READ DHOOL, IT IS A TRIBUTE TO WOMEN FOLK

http://bdnarayankar20.blogspot.in/