Vijay Mallya: Bankrupt Or Bankrolled?
The Vijay Mallya controversy has been defined by a promoter who claims his business collapsed, and so he cannot afford to pay crores of debt, or his own employees. On the other hand banks, who claim that they have done their best to get him to pay, and are now forced to move court, for his arrest. The reality is more complex. Kingfisher, may have collapsed, but Dr Mallya's personal wealth, seems to have not been significantly impacted. In fact, there is enough to settle his dues, which raises questions as to why the banks have been ineffective of getting more of their money back.
