Gadkari calls fugitive Mallya as 'Mallyaji'; urges 'unfair to call a one-time loan defaulter a chor'
Gadkari calls fugitive Mallya as 'Mallyaji'; urges 'unfair to call a one-time loan defaulter a chor'
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Mumbai: In a shocking move Union Minister Nitin Gadkari Thursday asserted that it is unfair to tag a "one-time loan defaulter Vijay Mallyaji" as a "chor" (thief). He added that the beleaguered businessman has a four-decade-long track record of well-timed debt servicing. However, Gadkari clarified that he has no business dealing with Mallya.At present Mallya faces extradition from the UK for alleged bank fraud and money laundering amounting to an estimated Rs 9,000 crore.

"40 saal Mallya regular payment kar raha tha, byaaj bhar raha tha. 40 saal baad jab wo aviation mein gaya....uske baad wo adchan mein aaya to woh ekdum chor ho gaya?...jo pachaas saal byaaj bharta hai wo theek hai, par ek baar wo default ho gaya...toh turant sab fraud ho gaya? Ye mansikta theek nahi hai."

(For 40 years Mallya was on a regular basis paying interest on loans. After entering the aviation sector, he started facing problems, and all of a sudden he became a thief? If a person repays the interest for 50 years, and if he defaults once, then unexpectedly everything is fraud? This mindset is not correct), Gadkari stated at an economic summit held by the Times Group.

Gadkari also said the loan he was referring to was from the Maharashtra government-owned entity Sicom to Mallya, extended 40 years ago, which he paid off on time without any default.

Asserting  that ups and downs are part and parcel of any business, the road transport minister claimed if someone goes through a descending cycle, then he or she has to be backed.

"There are risks in the business be it banking or insurance, there are ups and downs. But, if the mistakes are bona fide, because of global or internal factors in the economy like a recession, then that person who is facing difficulties must be given support," the minister stated.

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