The Supreme Court’s opinion on auctioning of natural resources comes is a relief to all (Business Line, September 28). The series of scams that have come to the fore in the recent past and the civil groups’ tirade against corruption have crippled the administration. Public servants have gone overboard to protect their skins rather than taking bold decisions. Let the judgment take the country forward at this time of economic peril.
The editorial ‘Charge of the loan brigade’’ (Business Line, September 28) welcomes banks turning more aggressive and taking greater interest in the management or even reorganisation of borrowers’ businesses.
Indeed, banks treat borrowers with kid gloves when they default in repaying huge sums and when they are industrial tycoons. On the other hand, priority lending extended to farmers is subject to revenue recovery in the event of default.
The lacuna is that there is no provision for revenue recovery from industrial tycoons, even if loans given to a limited company are guaranteed by promoters’ personal guarantee, as probably is in the case of Kingfisher Airlines.
There is need to treat all borrowers as equal by extending uniform nature of legal recourse.
K. V. A. Iyer