'Had sent a list of high-profile fraud cases to PMO; unaware of where those cases stand', says Raghuram Rajan
Raghuram Rajan said he sent a list of the largest frauds to the PMO.
In order to cripple and check the activities of wilful tax defaulters, the Income Tax department has decided to "block" Permanent Account Number (PAN) of such entities, get their LPG subsidy cancelled and take measures to ensure that they are not sanctioned loans.
Parliamentary panel had rapped Vijay Mallya four decades ago for illegally importing Australian hops.
In the not-so-pleasant scenario that Kingfisher Airline's Vijay Mallya finds himself in now, the detractors and nay sayers are many. And justifiably so. Owing Rs 7,000 crore to 17 banks is not loose change. From being the most sought after CEO, with the chatterati and glitterati vying with one another for a photo opportunity or an invite to his famous yacht parties, Mallya is now the pariah that no one wants to be associated with.<br />
Typically, a company is known as a 'going concern' if it has sufficient resources to continue to operate indefinitely and to avoid any potential bankruptcy risks.<br />
More than managing the complexity of a financial system, the biggest challenge of a central banker is to fight politically sponsored populist ideas being rolled out by incumbents time to time to appease their vote bank.
According to data provided by the Assessor and Collector department of the BMC, the total outstanding property tax dues from Shubhada society is Rs 11.94 crore while Sukhada society is yet to pay up Rs 4.42 crore, sums incurred from April 2006 to March 2014.
The court restrained secured creditors by a prohibitory order from taking such recourse as it held that the threat to publish photographs borders on extra-legal means to recover the dues.