Nirav Modi at Hustlingapur – Draw LoU Pretty and Nostro Haran
The Nirav Modi case comes just as the public was beginning to forget Vijay Mallya. The KingFisher of good times may not be having a good time in the UK. But better a man on the run than ruin your mien in an Indian prison, he may reason.
Taking a cue from Vijay’s successful (thus far) escape, Nirav Modi and uncle Mehul Choksi have followed suit. Fleeing the country along with family after fleecing Punjab National Bank of Rs. 11,000 Crores. There are various theories about how they manipulated/ manoeuvred to get Letters of Undertaking (LoUs) extended in their favour to leverage the nostro mechanism. The RBI (Reserve Bank of India) and Central Vigilance Officers have clearly been found wanting. The whistle-blower’s communication to various agencies two years ago on this scam had also been conveniently sat upon. One delinquent child (process violations) with multiple mothers in-absentia.
Vastra Haran of Draupadi at Hastinapur of yore being re-enacted in Hustlingapur’s version of Nostro haran / Draw LoUs pretty easily.
To add insult to injury for honest tax payers shoring up Indian public sector banks, Nirav is accusing the PNB Managers of not talking to him before crying in public about the ‘bad loans’. Gandhari after years of relaxed parenting also accused the yadava, Krishna Vasudeva on the battle field of Kurukshetra. She felt, considering his Divinity, he could have averted the ‘generation wiping’ Mahabharatha War. It would now be (tragically) comical to see the various government agencies accusing one another of slumber.
Flee-ing the Battle of Bank-loans…..For the beaches of Britain