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Indian banks broke rules,minor Victory for Vijay Mallya in London Court.

A UK judge who ordered Vijay Mallya’s (former Kingfisher Airlines boss) extradition expressed her shock at the failure of some of the state-owned Indian banks to obtain proper credit reports before sanctioning loans.Judge Emma Arbuthnot, Chief Magistrate at Westminster Magistrates’ Court in London, ruled that the 62-year-old businessman had a prima facie case of fraud and money laundering to answer and ordered extradition of Mallya, wanted for alleged bank fraud and money laundering amounting to an estimated Rs 9,000 crores.

The judge, who was extremely critical of Indian banks, expressed her shock at the failure to obtain proper credit reports before certain loans were sanctioned by some of the state-owned Indian banks and express that there was a failure to ensure that the guarantees were formally taken when they should have been and a failure to investigate the representations that KFA [Kingfisher Airlines] made at various stages to obtain the loans.

Justice Emma Arbaughnott  also stated in clear terms that Indian banks had grossly violated their own rules and regulations in lending to Mallya’s airline company Kingfisher.This can be seen ‘with closed eyes’ that above remarks were with reference to  the then Prime Minister Manmohan Singh and Finance Minister Chidambaram ordering the loan to Mallya, despite the bank’s objection.

Judge Emma Arbhannot of the Westminster Magistrate Court of London  exclaimed that the Indian Prime Minister Manmohan Singh and Finance Minister P Chidambaram were responsible for that robbery more than Vijay Mallya who had robbed thousands of crores of banks from India and has openly exposed the malpractices and corruption committed by Indian banks in giving loans to Vijay Mallya.

Judge also plead that many local Indians observed that Rahul Gandhi should be ashamed after the comment of that London court and the answer to why the corrupt pair of Congress Prime Minister, Finance Minister writing a letter recommending loan to Vijay Mallya, blacklisted by banks.

The news of the London court judge’s statement is missing like a horn from a donkey’s head, from news channels arguing for hours on any street leader’s statement as disputed is an astonishing fact.


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