It seems all are not equal before the law, some rich and famous are seems to be more equal. Every system and rule come to rescue, protect a rich and famous defaulter of national banks. RBI and Central Government trying to hide behind the confidentiality clause.
They dont want to ‘hurt’ industrial class, but readily jump to hurt farmers, professionals and other marginal sections. Most of the NPAs are byproduct of industrial class and bank officials criminal, fraudulent collusion. Indian establishments never treated bank frauds as national crime.
Industrial class will engage the highest paid lawyers in the country to dodge the cases and get out of it, where as common farmer has to sweat his blood or hang himself in case of default.
Where as whenever a small or medium farmer fails to deliver the repayment of the loan, which amounts to few thousands, will be draged to streets and insulted like anything. His gold ornaments will be auctioned by notifying publicly in newspapers. His property will be seized. His house will be locked.
But rich defaulters are gifted with One Time Settelements, Re-schedule of loans and if that to failed fecilitate escapades, where as common man will be pushed to a corner pressing for pay or die. What law is this?