Letters

Letters to the Editor dated November 29, 2019

| Updated on November 28, 2019 Published on November 28, 2019

Company resolution process

This refers to the editorial ‘Can’t resign and walk away’ (November 28). While lenders are still not out of the conundrum created by the bad big-ticket corporate loans, more powers should be given to the creditors, especially financial creditors, by making suitable amendments to the IBC.

A company avails and utilises credit facilities as per the directions of the board. At the time of repayment or resolution, the resignation of a promoter/director from the board indicates that the promoter does not care about the resolution or repayment of credit facilities availed from the lenders.

Reliance Communication’s Committee of Creditors rejecting the resignation of the directors to protect the interest of lenders is a welcome move, and will create precedence.

RCom’s dues are significant, and hence instead of resigning from the company, the directors must cooperate with the resolution professional and the CoC for a speedy resolution and payment of the dues. The personal guarantee of the directors is crucial, because it enables the lenders to restrict such moves.

VSK Pillai

Kottayam

State of healthcare

This refers to ‘Mohalla clinics, a viable primary care model’ (November 28). Primary healthcare centres are greatly needed, especially in rural areas. The fact that mohalla clinics are functioning well is a compliment to the AAP government.

But in urban areas too, there is a need for upgrading the medical care of the people. Availability of medical care facilities is an issue. Then comes the high cost of treatment, at both government and private practices, as well as the cost of medicines.

The government should now assess the present facilities by an expert panel to identify factors that require attention, apart from taking public opinion on the problems faced.

TR Anandan

Coimbatore

Whither economy?

Apropos ‘‘Growth may have slowed, but there is no recession’’ (November 28). The Finance Minister’s comparison of figures of consumption, inflation, etc with those of the UPA government is not useful. The NDA should judge its performance in the context of making India a $5-trillion economy.

It should also reconsider its objective of keeping the fiscal deficit at 3.3 per cent, as crossing it could boost investment. If the Ministry reviews its key policy decisions taken during the first half of the year, it may find that some the bottlenecks were of its own making and its sporadic, instead of structural, interventions were only mildly effective.

YG Chouksey

Pune

Farmer distress

This is with reference to ‘As CM , Uddhav Thackeray may waive loans taken by farmers’ (November 28). Waiver of farm loans is no solution to the farm distress in Maharashtra. The new government should work for rural development by providing the farmers with modern techniques of production, counselling facilities to prevent farmers’ suicide, improved rural infrastructure, alternative income options etc. No economy benefits when it is run on a charitable concept.

We need more banks which will lend to poor farmers, illiterate people and small entrepreneurs who mainly depend on money lenders for their financial needs. Hence political influence should not effect banking decisions and the banks should utilise the funds for fruitful growth of the economy. . If the political parties/governments had any concern for the farmers, the latter’s plight would not have been so bad today.

Veena Shenoy

Thane

Global warming

The grim findings of the UN Environment Programme Emissions Gap Report, pointing to alarming rise in the level of global carbon emissions should serve as a wake-up call for the international community. According to the report, even if all emissions promised by the countries are met, the world will be warmer by more than double the 1.5-degree target by 2100. It is time international community took the cue from young activists to ensure the fight is taken seriously

M Jeyaram

Sholavandan, TN

Published on November 28, 2019
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