Apropos the report, "Endgame Mallya" (March 8), how come all the law enforcers have zeroed in on Vijay Mallya suddenly? The trigger for the action might be the $75-million payment from Diageo.
Banks had classified the dues from Kingfisher Airlines back in 2012. But the political environment between 2012 and 2014 was not conducive for banks to take action against Mallya.
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The importance of political environment cannot be overstated: it can turn into a demon; it can be a sleeping giant. The government at the Centre has now empowered PSBs to take action against wilful defaulters.
All that the banks are doing now have been part of their rule books for years. But they did not enforce those rules for fear of action against them.
K V Rao, Bengaluru
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